Can't afford a BMW? No worries, buy a second-hand

PUNE, INDIA: Jan 14, 2010 -- Competition in the luxury car market is spreading into the used-car segment too. German carmaker BMW has got off the mark by announcing it will roll out BMW Premium Select, its organised business in this segment, by the middle of the year. Since finance is crucial for this business, the luxury car maker has also applied for a licence for an NBFC (non banking finance company). This way, it supports the business. BMW India, which is the leading luxury car brand with a 40% market share, sold close to 3,619 units last year. BMW will thus have separate business units for each activity, from selling cars, financing the buyer and the dealer, to financing used BMW cars. Source: The Economic Times