Thursday, November 24, 2011
By Pranjal Gera
BMW into used car business with its ‘BMW Premium Selection’ in India
The used car business in India has a huge potential; sighting the same initially Maruti introduced its used car wing named True Value followed by Mahindra with First Choice. Now, the premium luxury carmaker BMW has launched its used car business in the nation.
The German marquee is the second luxury firm after its rival Mercedes Benz to enter into the used car market. Mercedes Benz came up with similar concept last year in India.
Under the used car banner one can own a BMW product at a jaw-dropping price of INR 16 Lakhs. The pre-owned business of the firm in India will be known as ‘BMW Premium Selection’.
Mr. Andreas Schaaf, the President-BMW India said that overall 8,042 vehicles were sold in India till last month and that comprised of around 40 percent of the luxury segment. The group looks forward to strengthen its position with the launch of BMW Premium Selection, which is ought to play a crucial role in the firm’s success in the country, he added.
According to Mr. Schaaf, a brand new BMW 3 series sedan that is available at INR 24 Lakhs will be presented at INR 16 Lakhs with three years of usage at BMW Premium Selection dealerships nationwide.
At present, there are seven pre-owned car dealerships solely for BMW in India and more will be added in coming years.
All the cars available are of less than five years of usage and have clocked below 120,000 kilometers. The used BMW cars will carry a warranty of two years or 200,000 kilometers either which is earlier from BMW.
Loan option is also open for those interested in getting their car financed under BMW Financial Services at 13 percent finance rate.