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BMW India eyes to generate 10% revenue from used car business
The luxury car manufacturer, BMW India has recently launched their pre-owned car business in the country under ‘BMW premium Selection’ brand. The auto major has taken a plunge into the new business and expects to generate around 10% of their total revenue. Andreas Schaaf, the President of BMW has averred that the business has took off better than they expected nd right now, they are standing at a point where the demand for the used cars is more than the inventory. They have sold 400 units during the first phase and hope to reach the 1000 unit mark for sales during the next year in the pre-owned car business alone.
Published On Nov 26, 2011 05:17 PM By Vikas
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They have initiated the business in seven major cities across the country and hope to maintain the premium brand image in terms of quality. The BMW cars are expected to maintain a certain set of standards to make it to the showroom. A car should not be used for five years or with over 120,000 km mileage on the board. Unless the car fills the bill in both the aspects, a BMW car is not considered to be fit enough for sale. Moreover, the BMW car has to undergo a 72 point check, which validates the viability of the car. This way, BMW ensures the availability of the best cars for BMW fans across the country.
Unlike other used cars, BMW offers 2 years warranty or the 200,000 km coverage, whichever comes first for the cars for complete reliability for the investments the consumers make. The 24x7 road side service at hand is more than the consumers can bargain for. The financial assistance is the best aid they have come up with so far. The financial institutions tied-up with BMW offers car loans at 13%, much lesser than what the banks have to offer. If one wants to buy an upcoming BMW 1 series car. Better wait for another 3 years to strike a much better deal than now. Why, a BMW 3 series sedan which sells for Rs 24 lakhs might be up for sale for mere 16 lakhs and not more than 120,000 km on the board. Isn’t that a better deal now?
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