BMW on Thursday said it had started its leasing business that would allow individuals and corporate customers to drive a BMW of their choice for a fixed period in return for a pre-decided lease rental.
To be operated by BMW India Financial Services India, BMW Lease will initially be offered in Delhi, Haryana, Andhra Pradesh, Tamil Nadu, Karnataka and Maharashtra and soon offered across other BMW dealerships in the country.
“BMW Lease is a pioneering product, specially engineered for BMW customers, providing customised financing options, flexible lease tenures and better tax benefits,” said BMW India Financial Services Managing Director and Chief Executive Officer Dan DeChristopher
BMW Lease provides its customers with a one-stop solution for all their automotive needs with options to choose between finance lease and operating lease. Under the finance lease arrangement, all substantial risks and rewards incidental to the ownership of the vehicle is transferred to the customer. At the end of the tenure, the customer is provided an option to retain the vehicle at a price substantially lower than the market price.
Renault Pulse to cost more
Renault India Pvt. Ltd., a subsidiary of Renault s.a.s., has decided to increase the price of its compact premium car, Pulse. The price increase will come into effect from March 8. Pulse was launched in the Indian market during the New Delhi Auto Expo in January this year with an introductory price of Rs.5.77 lakh (ex-showroom, Delhi). Faced with rising input costs, the company has decided to increase the price of the Pulse by around two per cent across India.
Renault India also sells the premium sedan Fluence and the premium sports utility vehicle Koleos in the Indian market. While Fluence was the entry vehicle for the company when it was launched in May, 2011, Koleos was an addition to its stable in September, 2011. The launch of Pulse added substantially to Renault's customer base in India with the car receiving good response.
“Pulse comes loaded with features which provide an extremely good value for money proposition. In the face of rising input cost, however, we have no option but to pass on a part of the cost to our customers,” a release quoted Marc Nassif, Managing Director of Renault India, as saying.
