The BMW Group has increased
its investment in BMW Financial Services India to Rs 640 crore(€ 98 million) in
2015 from Rs 530 crore (€ 80 million) in 2012. BMW Group launched BMW Financial
Services India on October 5, 2010 as a 100pc subsidiary headquartered in
Gurgaon (National Capital Region). On June 16, 2010, BMW Financial Services
received a license to operate as a Non-Banking Finance Company (NBFC) from the
Reserve Bank of India.
Aimed at private and corporate
customers, BMW Financial Services offers an extensive product portfolio
including financing, leasing, insurance (as corporate agent) and dealer
financing. BMW Financial Services offers individually tailored payment plans,
attractive offers, quick approvals with fast turn-around time and
special loyalty benefits.
Dr. Stefan David Schlipf, Managing Director
and Chief Executive Officer, BMW Financial Services India said, “BMW Financial
Services India has successfully established itself as the leading provider of
customised financing solutions and premium services and the new investment will
help us in further enhancing our portfolio. This investment reinforces BMW Group’s
long-term commitment to India which is an important market for us. We are dedicated
to provide a ‘complete brand experience’ to our customers, be it in terms of
tactical delivery of products or service quality.”
Philipp von Sahr, President,
BMW India said, “In the world of BMW, world-class isn’t limited to the vehicles
that we engineer. It also finds its way into the services that we offer. BMW
Financial Services completes the circle of ‘Sheer Driving Pleasure’ by
providing complete peace of mind to BMW customers with transparent financial
solutions to make the transition from showroom to the road. BMW Financial
Services is an integral part of our operations in India and has made
significant contribution to BMW Group’s growth in this market.”
Source: BMW Financial Services India