The BMW Group has raised its investment in BMW Financial Services India to Rs 640 crore in 2015 from Rs 530 crore in 2012.
Stefan David Schlipf, Managing Director and Chief Executive Officer, BMW Financial Services India, said in a statement, “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.”
BMW Financial Services offers a product portfolio that includes financing, leasing, insurance (as corporate agent) and dealer financing.
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,”.
He added that the financial services arm was an integral part of their operations in India and had made significant contribution to the Group’s growth in this market.
Launched in Oct 2010, as a 100 per cent subsidiary headquartered in Gurgaon (National Capital Region), BMW Financial Services India operates with three business lines - Retail Finance, Commercial Finance and Insurance Solutions (as corporate agents).