Home / China News / News detail

BMW launches auto finance firm in China

From Dow Jones | November 22 , 2010 16:47 BJT

BMW AG (BMW.XE) launched an automotive finance company in China on Monday, after the German auto maker received regulatory approval for the venture.

The finance company will offer financing for retail and wholesale purchases of BMW vehicles, as well as leasing services, BMW said in a statement.

In China's fast-growing car market, financing options for car purchases lag far behind developed markets, and the vast majority of Chinese consumers pay cash for new cars.

The finance company, BMW Automotive Finance (China) Co., is a joint venture between BMW and BMW Brilliance Automotive Ltd., which is a joint venture between BMW and Chinese auto-maker Brilliance China Automotive Holdings Ltd. (1114.HK).

Gasgoo not only offers timely news and profound insight about China auto industry, but also help with business connection and expansion for suppliers and purchasers via multiple channels and methods. Buyer service:buyer-support@gasgoo.comSeller Service:seller-support@gasgoo.com

1: China's automobile market boasts two-digit YoY growth in both Q1 2025 sales, output

2: XPENG kicks off presale of 2025 XPENG X9 MPV model

3: SAIC Motor, Huawei launch joint NEV brand

4: XPENG begins selling 2025 XPENG X9 model, showcases breakthroughs in AI, flying car fields