German luxury car brand BMW is all set to tap the pre-owned luxury car selling market. The company is planning to launch its pre-owned car selling business in September this year.
"There is a huge potential in pre-owned car market in India and its a very lucrative business for us. Therefore, BMW India is planning to set up its pre-owned car selling business in September this year," said Andreas Schaaf, BMW India president commenting on this development.
He added, "We are in the last phase of the planning process to set up this business for India and only one module is left for the completion. The final draft will be ready after the summer break. We are manufacturing and assembling BMW cars from 2007 and feel that we have enough opportunities to focus on this pre-owned car market."
Schaaf refused to share more information on the models, price and timeline of the pre-owned
BMW India also now offers 'secure advanced service' as an additional service over the warranty and insurance policy. The scheme has come into effect from April 1 as a standard service for all BMW cars.
Another German luxury car maker Mercedes-Benz has already set up its global pre-owned car business under the brand name of 'Proven Exclusivity' since June 2010.
BMW will consolidate its market position by extending its presence in tier-II and III Indian cities over the next two years.
Schaaf also added that the dealership network of the company will be enhanced from the existing 24 facilities to 40 in the next two years, "We aim to add 60 dealers by 2015. We are examining the market potential of smaller cities and towns." he said.
BMW India also unveiled the new showroom of Bavaria Motors in Pune on Wednesday.