BMW to lease out its cars to individuals in India

BMW, the Germany based car manufacturer is planning to launch a new scheme for Indian buyers in which it will lease out its cars to preferring customers who otherwise can not afford to buy these cars. According to the company it will lease out its cars India for a specific period of time and then will take them back afterwards.  The luxury car market in India is consolidating year by year and around 9,000 luxury cars sold in total last year. By leasing out these vehicles the company is also looking to built inventory for its pre-owned car business name as 'BMW Premium Selection' which is yet to be launched in India.

Peter Kronschabl, BMW India president told to a media group that company has realized in its three years of business in India that many buyers want to own a BMW but they are not interested in buying it and company is planning to capitalize on these type of customers by leasing out its vehicles to them. He also added that this is the first time company is going to lease vehicles to individuals though till now company is leasing to companies and business groups. BMW India sold 3,619 vehicles India compare to its arch rival Mercedes-Benz's 3,247 in the year 2009.

Besides this many new car model has been launched in India like Chevrolet Beat, Tata Aria, Maruti Eeco and Honda New Small Car Concept. Besides this many upcoming cars are all set to enter in Indian market like Ford Figo and Volkswagen Polo.