Wednesday, May 02, 2012: 10:04:06 AM

Machinist News

BMW hikes investment in India

Sensing potential in the Indian luxury auto segment, BMW India has more than doubled its investment plans

German auto major BMW Group has recently announced that it has almost doubled its investment in the company’s Indian operations. The company’s announcement is in alignment with its plans of increasing footprints in the Indian automobile market, which is picking up pace after observing a flaccid year in 2011.

BMW would invest US$106 million in BMW Financial Services India in 2012, which is a marked (more than double) rise from the figure of US$50 million in 2010, according to a company press release.
Dan DeChristopher, managing director and CEO of BMW Financial Services India said, “In less than 2 years, BMW Financial Services India has successfully established itself as the leading provider of customised financing solutions, individually tailored leasing plans and unrivalled services. BMW Financial Services India has made significant contribution to BMW Group’s success in India. This investment will help us enhance our product and service offering in India to further augment BMW India’s market leadership.”
BMW India president Dr Andreas Schaaf said, “BMW India continues to be the leader in the Indian luxury car segment. An integral part of our winning story in India is BMW Financial Services, which provides complete peace of mind to BMW customers with financially attractive offers and professional services to make the transition from showroom to the highway, pleasurable and memorable. The investment clearly reinforces BMW Group’s commitment to India.”
Luxury car in demand
Though the small car segment had taken a hit last year, the luxury-premium car segment had flourished well. This could be attributed as one of the reasons for BMW looking to boost its product and services offering in order to cater to the Indian consumer demand well. The reason for luxury car sales not dipping is that the rich and the affluent class in India have not been affected by the internal economic uncertainties like inflation and high interest rates much and therefore are in a position to spend on purchasing luxury vehicles.
Priyanka Roy Chowdhury

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