The German car maker BMW augments its investment to Rs. 5.3 billion (US$ 106 million) in BMW Financial Services India for the current year. This marks a significant increase as compared to Rs. 2.3 billion (US$ 50 million) investment made by the company in 2010. New Customer Interaction Centre has been introduced by the luxury car maker at the BMW Financial Services India. At its headquarters in the industrial hub Gurgaon, BMW Financial Services India will hire over 80 people this year.
Talking about this remarkable growth, Dan DeChristopher, Managing Director and Chief Executive Officer, BMW Financial Services India was quoted as saying that "In less than two 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 Financial Services was established in the year 1991 and currently has its subsidiaries in around 32 countries, including India, along with being active in over 60 countries. It is catering to the needs of around 3 million customers with assets worth Euro 70 billion worldwide.
In India, BMW Financial Services was established less than two years ago, on 5th October, 2010 in Gurgaon (NCR). The 100% subsidiary of BMW started its operations as a Non-Banking Finance Company (NBFC) on 16th June, 2012, after receiving licence from Reserve Bank of India (RBI). It is currently engaged in three business lines, namely Retail Finance, Commercial Finance and Insurance Solutions (with the help of its cooperation partners). Premium clientele in search of exclusive and flexible financial solutions gains significantly through its services. Moreover, the prime focus of BMW Financial Services in India is service excellence.
BMW Financial Services provides solutions regarding retail automobile financing to the esteem BMW customers as well as multi-make customers. In addition, it offers financial solutions to fleet owners, as well as commercial financing for the company’s and multi-make dealerships. The commercial financing provided to BMW India dealerships augments the operations in India and strengthens the brand. Along with the financial solutions, it offers insurance to its customers with the aid of cooperation partners as well as BMW Lease to individuals and corporate customers.
This year, an in-house Customer Interaction Centre was also launched by BMW Financial Services India for helping current as well as potential customers. At the centre, customers get comprehensive BMW experience and assistance from professionally trained executives. The executives employed at the centre are well-versed and experienced, who can efficiently assist BMW customers about financial solutions, lease, insurance and asset management. In addition, it provides all the information about dealer financial solutions as well as company car pools.
Speaking about the BMW Financial Services India and its growth, Dr. Andreas Schaaf, President, BMW India commented, "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."
