BMW signs credit financing deal in China

Newswire

BEIJING, May 27 (Reuters) - German auto maker BMW AG signed an agreement with China Merchants Bank on Thursday to offer car loans to customers in China. BMW expects that the financing deal can help the company strengthen its position as market leader in the premium segment, said Michael Brandstetter, head of new markets at BMW's financial services division, at a contract signing ceremony. "In the next few years, around 40 percent of cars in China will be financed. We believe that this ...

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