BMW Premium Selection is the name given to the new business establishment by the company in India dedicated to selling of Pre-owned cars and is to start by 1st April 2010, as said by President Peter Kronschnabl. The same news had been announced earlier as well.
Kronschnabl said “The first showroom will be opened in Chennai in April and the next one in Gurgaon in the third quarter of the year,” and added that for 2010 these will be the only pre-owned cars outlet. The existing dealer network will prove to be a medium for the company to leverage the new business and the dealership network is also expected to reach 24 from 17 by this year.
“We are looking at selling 300 pre-owned cars in the first year. We will encourage our dealers to trade in used cars of other brands as well,” said . According to BMW after the establishment of the new concept as mush as 30% of the total sales for the company will come from it.
“Most banks charge a premium of 5% for a used car. Our rates will be close to those for new cars,” says Kronschnabl pointing at the ease with which they wish to make finance available to its customers.”We should start operations by mid-2010 and people interested in buying other brands are also welcome,” added the same.
BMW Financial Services in association with Bajaj Allianz seek to offer retail finance to its customers, commercial finance to its dealers along with insurance facilities.