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|31st July 2008, 17:52||#1|
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BMW-ORIX Auto tie-up for Leasing Services
BMW India signs a cooperation agreement with ORIX Auto Infrastructure Services for Leasing Services
31 July 2008
New Delhi: BMW India signed a cooperation agreement with ORIX Auto Infrastructure Services Limited (OAIS) for leasing services of BMW Cars in India. OAIS is an established leader in providing Infrastructure service solutions in the Auto Sector. With this agreement, OAIS will offer innovative and competitive leasing solutions to support the sale of BMW group products in India. The leasing services will be offered to customers through the BMW dealership network across India. Additionally, OAIS will also support BMW through its existing business network.
Through this agreement, OAIS will offer unique services to BMW group customers. Further, the products will be customized to cater to the special requirements of BMW customers. With this agreement, BMW and OAIS aim to deliver hallmark quality of service through all BMW dealerships and BMW corporate customers across the country
Commenting on the signing of the agreement, Mr. Peter Kronschnabl, President, BMW India said “Our association with OAIS, the leading lease services provider in India reflects our commitment to set new benchmarks in service quality and customer care in India. This agreement will help in facilitating our customers to lease BMW group products through the range of tailor-made leasing solutions.”
BMW Financial Services is currently active in more than 50 countries worldwide offering competitive financial solutions for BMW and MINI customers. In 20 countries, BMW Financial Services are offered through leading local banking and insurance partners.
Mr. Neeraj Kumar, Managing Director & CEO, OAIS said “Our focus has always been value creation and through this tie up, OAIS will be able to provide a value product for the Indian market. Customers can experience superior products and avail the benefits under value added lease.
ORIX Auto Infrastructure Services Limited (OAIS)
ORIX Auto Infrastructure Services Limited (OAIS) is a joint venture between ORIX Corporation, Japan and Infrastructure Leasing and Financial Services Limited, India (IL&FS). This lineage helps OAIS in devising solutions that are best in terms of auto infrastructure innovation and financial feasibility.
OAIS has been the pioneers in Operating Leases in India and has been in operations since 1995. Over the years, OAIS has created a diversified portfolio in the transport infrastructure segment through Vehicle Leasing and Value Added Services, Car Rentals, Radio Taxi, Business Transport Solutions, Commercial Vehicle Financing, Equipment Banking, Service Centre and Logistics. OAIS is a registered NBFC in India and provides leasing solutions under finance and operating leases. This model allows OAIS to create products customised for the Indian market
Headquartered in Gurgaon (National Capital Region) BMW India is a 100% subsidiary of the BMW Group. The initial investment in India is 1.1 billion Indian Rupees.
The wide range of BMW in India include the establishment of a production plant in Chennai (Tamil Nadu) and development of a dealer organisation across all metropolitan centres of the country. [/
In medium term, BMW India will employ around 200 people; up to 600 additional jobs will be created in the dealer and service network
On 29 March 2007, BMW India officially opened its production plant in Chennai. The BMW Plant Chennai produces the BMW 3 Series and BMW 5 Series Sedans in petrol and diesel variants and has a capacity to produce 3000 units per year on a single shift basis.
Presently, 12 dealers represent BMW in the Indian market; Bird Automotive (Gurgaon, NCR), Deutschen Motoren (New Delhi); Navnit Motors (Mumbai), Infinity Cars (South Mumbai); Krishna Automobiles (Chandigarh); Navnit Motors (Bangalore), Delta Motors (Hyderabad), Kun Exclusive (Chennai), Bavaria Motors (Pune), OSL Prestige (Kolkata), Parsoli Motors (Ahmedabad) and Koyenco Prestige (Kochi) . Owing to an exuberant growth potential, BMW is hopeful of multiplying its annual sales volume and has already chalked out an extensive dealer strategy to support its plans. Phase I of the Dealer network expansion plan includes 12 dealers covering all metropolitan centres of the country by the end of 2008.
BMW dealerships will display the BMW 3 Series (325i, 320i and 320d, 320d Highline) and BMW 5 Series (525i, 530i, 520d, 530d and 530d Highline) that are produced at the BMW Plant Chennai. BMW dealerships will also display the BMW 6 Series (650i Coupé and 650i Convertible), BMW 7 Series (740Li, 750Li, 760Li and 730Ld), BMW X3 (X3 2.5 si) and the BMW X5 (X5 3.0d and X5 4.8i) which are available in the country as CBU’s (completely built-up units). The New BMW M3Coupé, BMW M5 Sedan, BMW M6 Coupé, BMW M6 Convertible, BMW 7 Series Individual and BMW 6 Series Individual can be ordered at BMW India dealerships
BMW India has partnered with Bajaj Allianz General Insurance for offering motor insurance and with ICICI Bank to offer customised financial solutions and ORIX Auto Infrastructure Services Limited for leasing services for its customers. These products and services are offered through the BMW Financial Services
BMW India has also established an International Purchasing Office (IPO) at its Headquarters in Gurgaon. The IPO will focus on the development of exports from India to the BMW Group International Production Network and there work towards increasing the sourcing share from India over the next years. The activities include the identification and assessment of potential suppliers taking into account BMW’s requirements for quality, technology and logistics. The IPO will explore procurement of production material (components) as well as IT and Engineering Services.
Source: BMW India Media Service
Last edited by hanmust : 31st July 2008 at 17:56.
|31st July 2008, 18:56||#2|
Join Date: Feb 2004
Thanked: 62,850 Times
If this includes discounted pricing for BMW's, then its a killer deal. Leasing offers just so many advantages to corporates & business owners in terms of tax savings and releasing capital. I am left wondering at its lack of popularity!
Link to our article on leasing (ARTICLE: Lease OR Loan? Which EMI is better for you).
|19th May 2009, 12:01||#3|
Join Date: Dec 2006
does anyone here have any idea about how much the emi for a 320d on a 3yr lease is gonna work out and also the buyback rate. If it's reasonable as I am expecting it to be then I think I might just go in for this deal.
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