The luxury car maker, BMW, has launched “BMW Xpo” in India as its marketing campaign to promote its cars during the festival season in the country. The BMW Xpo has been launched at all the BMW dealerships across India till October 28, 2008. The dealerships will offer test drive of the BMW cars to prospective and existing BMW customers.
The dealerships will also offer special financing and leasing offers introduced by BMW Financial Services in collaboration with the ICICI bank and ORIX Auto Infrastructure Services Limited. ICICI bank will offer fixed interest rate of 15 percent to the new BMW customers while ORIX has “Zero Down Payment” option for a fixed period of time. At a time when auto loan interest rates are hovering at 14-17 percent, BMW India will be offering 5.38 percent interest rates to its customers for those opting to buy its BMW 3 series. The offer is valid only for the 3 Series cars that are priced around Rs. 27-30.70 lakhs in India. Bajaj Alliance will also offer special insurance policies to new BMW customers at a special discount of 30 percent.
BMW has sold 27 units of X3 and X5 in August itself against simple 4 units in the same period last year. This marks a nearly 500 percent growth. Luxury car makers like BMW, Mercedes, and Bentley foresee India as a prospective and promising market for their luxury cars.
