BMW Financial Services India new chief and luxury car offers
Dr. Stefan David Schlipf stepped in as MD and CEO of BMW Financial Services India, wef 1st April 2013. Prior to this he was MD, New Markets and Cooperation Management, BMW Financial Services based at Munich. He had joined BMW Financial Services in 2005. Between 2006 and 2010 he held different position for markets in Asia and Africa.
BMW India ended 2012 in top spot with 9,375 cars sold for the year. However, they conceded top spot to Audi India for FY 12-13 with Q1 of 2013 going Audi’s way with 2616 cars sold. For the period, BMW India sold 1465 luxury vehicles. In terms of sales, Mercedes Benz India sold 2009 cars. However, the lead wasn’t sufficient for the star to move to 2nd spot for FY 12-13. As such, after having ended 2012 in this order: BMW, Audi, and Mercedes. Results for the FY are in the order Audi, BMW, and Mercedes Benz. Audi has recorded 37% sales growth having sold 770 cars in April 2013.
While Audi will be working on consolidating their current lead, Mercedes Benz would be looking at prospects to not lose their current lead in India. BMW India would have the most to lose in terms of ranking if they dropped any further. With competition gnawing at both ends, new car launches, local production, and well thought of financial tools that could steady numbers.
Ending 30th April, BMW had offered buyers a scheme to pay 50% of the car loan in 3 years, with the option to retain or trade in after 3 years, 100% Finance, and no service or maintenance cost for a period of 3 years((60,000 kms). This was designed for the 5 Series or 3 Series. BMW 5 Series and 3 Series offer best in class features which include 8 Speed Automatic Transmission, Auto Start/Stop Function and Brake Regeneration. These features along with enhanced aesthetic features and improved engineering make these cars must haves.
Innovative and attractive schemes offered by BMW Financial Services give customers a variety of payment options with the one aim of procuring their most desired vehicle. The month before, BMW X models were made available at pre-budget p-rices, and with depreciation benefit. This included the company’s SUV range, the BMW X1, BMW X3, BMW X5 and BMW X6. The limited stock made available at Pre-Budget prices saw a maximum savings of Rs. 14,70,000 on the BMW X6.