BMW steps into the Financial sector to boost the sale of its cars in India. For this $50 million have been allocated and the official transaction might commence from mid-2010, said the President of BMW India. He disclosed this at the launch of the limited edition of Gran Turismo. In addition, there will be an insurance concern in alliance with Bajaj Allianz and installation of pre-owned cars showroom. In 2009, BMW mustered a sale of 3619 cars and the premonition about the scope of pre-owned cars is wide open.
BMW boasts the stake of 40 % in the monthly sale of premium cars(numbering about 10000). 2010 seems to be prospective after a soft pedaling in the market, he said. The Chennai unit of BMW has the capacity to produce 3000 units of BMW X1 in a single shift. With an investment of $30 million the capacity will be increased for meeting the demands for ensuing models. The assessment of cost involved in enhancing the manpower and fresh investment is being made along with capital investment, he further added.