BMW realized that there are several customers in India who want to own a BMW but not at regular showroom price. Thus, for the first time BMW has come out with a plan to lease out BMW cars to individual customers who do not prefer outright purchase. The company will lease out cars for specific periods and then take them back for re-sale.

BMW will refurbish these returned leased cars and the fleet owned by its company executives and put them on resale accompanied by its own warranty. BMW will also launch its used car business – BMW Premium Selection by the end of this year.

“In the three years of operations we have realised that a large number of customers want to own a BMW product, but not exactly buy it at the regular ex-showroom price. We are leasing to companies but this is the first time we are tapping individual customers,” said Peter Kronschabl, President, BMW India. BMW is aggressively looking at consolidating its market share in the Indian auto market premium car segment.