BMW the world's largest maker of luxury vehicles, is increasing incentives to purchase cars as a way to reduce reliance on leases that make up 60 percent of its U.S. sales.
The automaker several weeks ago began offering buyers 0.9 percent loans of as long as five years, said Jan Ehlen, a spokesman for its U.S. unit in Woodcliff Lake, New Jersey. BMW also raised its lease prices an average of 3 percent on May 1.
``We are offering a broader variety of purchasing options,'' Ehlen said today in an interview. ``One of the intentions is to have a more balanced relation between financing and leasing,'' he said, adding that Munich-based BMW doesn't have a target figure.
| Percentage Of New Car Leases |
| | |
| BMW | 60% |
| Mercedes Benz | 55% |
| Audi | 50% |
| Lexus | 43% |
Cadillac
General Motors
Toyota | 42%
15%
15% |
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