BMW will invest $50 Million in their Indian Finance Subsidiary

leica.chang October 6, 2010 BMW News Leave a comment 39 Views

Last Tuesday, BMW has confirmed that they will be investing $50 million this year for a finance subsidiary set up in India. The BMW Financial Services in India will be a non-banking finance company. It will be involved in retail finance, commercial finance and insurance solutions for BMW customers. Sanjiv Shah was appointed by BMW as the chief executive of the Indian subsidiary.

Auto financing has long been a convenient tool in India. Other automakers like Volkswagen have realized this a bit earlier and has already set up an Indian financing arm of their own. General Motors, PSA/Peugeot-Citroen SA and Toyota Motor Corp. are also planning to follow the footsteps of BMW and create financial business in India.

BMW has also announced that they will be setting up an auto financing unit in China.

Source: Autonews

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