The leading auto manufacturer of Germany, BMW has announced that it is planning to start its car finance business "BMW-NBFC" in India by the month of June this year. For this the automaker has planned to invest USD 50 million in India. Its non-banking finance corporation is expected to take over 24 months to be expanded all across the country.

BMW India President Peter Kronschnabl has informed that India is having very high market potential. Moreover the car finance segment is a tremendous platform to be focused. He has also informed that about Rs 220 crore will be invested by the company in this country in next two years to set up the company infrastructure.

And then it will start operating the BMW-NBFC in India. Mr. Kronschnabl has said this while he was present in the launching ceremony of BMW's sixth generation of 5 series model in Mumbai.

At the initial stage of BMW-NBFC, it will be focusing car leasing, buy-back and financing used car business. BMW is expecting to sale more than 11,000 units of luxury cars this year.