German automobile manufacturer BMW has announced its plans to raise its stake in India by increasing its investments by more than double in the financial services business to initiate expansion. According to Mr. Dan DeChristopher Managing Director and Chief Executive Officer BMW Financial Services India, the fresh investments by the company will enable it to enhance its product and service offering in India and strengthen its position in India.
BMW Financial Services India offers automobile finance and auto insurance solutions for customers and loan products for BMW dealers. The financial arm of the company commenced operations in October 2010 and has its headquarters at Gurgaon.
BMW is currently the world’s largest luxury automaker in terms of sales and offers various car models from its global portfolio in India such as the 3-Series, the 5-Series and the 7-Series in the luxury sedan category and the X3 and the X5 SUVs in the luxury sport-utility vehicle category.