To the extent that historical press releases reference BMW Manufacturing Co., LLC as the manufacturer of certain X model vehicles, the referenced vehicles are manufactured in South Carolina with a combination of U.S. origin and imported parts and components.
PressClub USA · Article.
BMW FINANCIAL SERVICES MIRRORS BMW GROUP'S 2001 SUCCESS New Vehicle Financing Passes 100,000 Units
Mon Mar 25 12:00:00 CET 2002 Press Release
The number of new lease and retail contracts signed with BMW Financial Services surpassed the 100,000 mark for the first time in 2001, reflecting a year of overall growth and expansion.
Press Contact.
Martha McKinley
BMW Group
Tel: 123
Fax: 201-573-8416
send an e-mail
Author.
Martha McKinley
BMW Group
Woodcliff Lake, New Jersey, March 25, 2002... The number of new lease and
retail contracts signed with BMW Financial Services surpassed the 100,000 mark
for the first time in 2001, reflecting a year of overall growth and
expansion. More than 106,000 total contracts represented a 27% increase from
2000 and contributed to a record $5.2 billion in new and used vehicle financing
in 2001.
"One out of every two BMW vehicles sold in the United States is financed by BMW
Financial Services," said Robert Devine, managing director of BMW FS. "This
penetration of 50 percent is well above the industry average, and is a level we
anticipate exceeding in the future as BMW introduces additional models and new
brands to the U.S."
BMW Financial Services has launched a new division - MINI Financial Services -
to support the MINI brand's new dealer network and customers as the MINI Cooper
and MINI Cooper S go on sale in the U.S. in the coming months.
Some highlights for BMW Financial Services in 2001:
* Managed assets soared to more than $12 billion.
* The number of new lease and retail contracts signed reached 106,000. (Up from
less than 45,000 in 1993.)
* Motorcycle financing reached a record level of 7,500 units.
* The Dublin, Ohio Customer Service facility was expanded to nearly twice its
original size with a workforce expected to reach 500 by the end of the year.
The year 2001 was the most successful business year ever in the history of the
BMW Group, with the company reporting record figures in sales, production,
deliveries and capital expenditure. The BMW Group delivered a total of 905,653
BMW and MINI cars to customers - an increase of 10.2 percent over the previous
year (822,181 units).
BMW of North America also experienced its best sales year ever. In the U.S.,
sales were up 12.5 percent over 2000 with a total of 213,127 vehicles sold
compared to 189,423 vehicles in 2000. This success - coming despite consumer
behavior characterized worldwide by the economic slowdown and weak financial
markets - is anticipated to translate into continued growth for the financial
services division.
BMW Financial Services
BMW Financial Services NA, LLC was established in 1993 as a captive finance
company to support the sales and marketing efforts of the BMW Group in North
and Latin American. With more than $12 billion in managed assets and nearly
400,000 customers, BMW FS leases or finances more than half of the new BMW
vehicles sold in the U.S. BMW FS employs about 440 people, most of whom are
located in the Dublin, Ohio Customer Service Center.
BMW Financial Services provides a wide range of leasing, retail, commercial and
banking products tailored to meet the needs of BMW customers and dealers in the
United States, Canada, Mexico, Argentina and Brazil. All lease servicing,
including credit underwriting, funding, customer service, title administration,
lease-end and collections are handled at the Dublin customer service center.
A growing portfolio of banking and credit card offerings is also available
through the BMW Bank of North America.
BMW Group in America
BMW of North America has been present in the United States since 1975. Since
then, the BMW Group in the United States has grown to include marketing, sales
and financial service organizations for the BMW and MINI brands; a South
Carolina manufacturing operation; DESIGNWORKS/USA, an industrial design firm in
California; a technology office in Silicon Valley and various other operations
throughout the country. The BMW Group is represented in the U.S. through a
network of 340 car, 327 Sports Activity Vehicle and 148 motorcycle retailers.
BMW US Holding Corp., the Group's headquarters for North, Central and South
America, is located in Woodcliff Lake, New Jersey.
Information about BMW Group products is available to consumers via the Internet
at http://www.bmwusa.com, http://www.bmwmotorcycles.com and
http://www.miniusa.com.
Please download the attached file for the BMW Financial Services Fact Sheet
which contains the following information:
-Facility Locations
-Vehicle Services
-Performance Banking
-Services on the Web
-Community Involvement
-Commitment to the Arts