New BMW auto finance firm
BMW announced last week that its automotive finance company in China formally started business on Nov 22.
The group has a 58 percent share in newly established BMW Automotive Finance (China) Co Ltd, with the remaining 42 percent owned by its China car joint venture BMW Brilliance Automotive Ltd.
The new company has already begun pilot operations at BMW dealer outlets in Beijing, Shanghai, Guangzhou, Shenyang and Chongqing, according to the statement.
