[seifufu]

BMW Group Canada announces March sales
WHITBY, ON, April 1 /CNW/ - BMW Group Canada reported today March sales
of 1,880 BMW and MINI vehicles, a decrease of 23.3% over March 2007 sales.
Year-to-date BMW and MINI sales are 4,532 units, a decrease of 13.1% over the
same period last year.
The BMW brand retailed 1,584 units in March 2008, a decrease of 25.6%
over March 2007. BMW year-to-date sales are 3,835 units, down 15.1% compared
to last year.
Year-to-date BMW Certified Pre-Owned sales are up 6.4% to 1,449 compared
to the same period last year. Total year-to-date Pre-Owned sales are 1,726
units, down 3.6%. BMW Certified Series Pre-Owned sales in March were 552
units, a decrease of 5.32% compared to March 2007. Total Pre-Owned BMW sales
were 644 units in March, down 14.2%.
BMW Motorrad Canada March sales were 75 units, a decrease of 50.0%.
Year-to-date, Motorrad has retailed 99 units, down 53.3% from last year.
MINI Canada sales were 296 units in March, down 8.4% from the March the
previous year. MINI has retailed 697 units in Canada year-to-date, a minimal
decrease of 0.1% compared to the same period last year.
MINI Canada Pre-Owned division celebrated best ever March sales. MINI
Next Certified Pre-Owned sales were 44 units in March, up 22.2% from March
2007. Total MINI Pre-Owned sales were 59 units for March, an increase of 5.4%.
Year-to-date, MINI Next Certified Pre-Owned saw a 22.6% increase in sales to
103 units. Year-to-date total MINI Pre-Owned sales are 154 MINIs, up 22.2%
compared to the same period last year.
"We expect a strong increase in sales in the coming months with the
introduction of many new models and sales incentives. New models for 2008
include the MINI Clubman, BMW 1 Series, BMW M3, BMW X6 Sports Activity Coupé,
BMW 335d Advanced Diesel and X5 35d Advanced Diesel," said Lindsay Duffield,
President & CEO, BMW Group Canada. "Beginning today we are offering attractive
lease and finance rates as low as 2% or $4,000 alternate cash back on many of
our high volume models like the 335i and 335xi Sedan."

BMW Group Canada, based in Whitby, Ontario, is a wholly-owned subsidiary
of BMW AG and is responsible for the distribution of BMW luxury performance
automobiles, Sports Activity Vehicles, Motorcycles, and MINI. BMW Group
Financial Services Canada is a division of BMW Group Canada and offers retail
financing and leasing programs on new and pre-owned BMW and MINI automobiles,
as well as retail financing for new and pre-owned BMW Motorcycles. A total
network of 40 BMW automobile retail centres, 18 BMW motorcycle retailers, and
24 MINI retailers represents the BMW Group across the country.




For further information: Stacy Morris, Corporate Communications
Specialist, BMW Group Canada, (905) 428-5076, stacy.morris@bmwgroup.ca

[benyl]

hmm... if the trend continues, maybe they will finally start lowering their prices.

[achien]

I feel like my M3 is coming...

[ak47firepower]

I'm sure there will be incentives coming up for the new cars shortly. Sucks to be us that have just bought! lol!

[who's ur daddy?]

Screw BMW. Knock them off their price pedestal!!!

[sparkyg]

I'm checking on the $4000 cashback, I was at $3000 1.5 weeks ago, I wonder if they bumped it?

EDIT: Just found out, changed to $4000 off on 335i and 335xi

[benyl]

If you pay in cash. Some of us aren't that bling... haha

[sparkyg]

Didn't say it was my cash, just a cash sale.

The bank seem to have no problem giving me money, gotta pay them back though.

[ElCapitan]

Originally Posted by sparkyg

Didn't say it was my cash, just a cash sale.

The bank seem to have no problem giving me money, gotta pay them back though.

Hey Glenn what rate is the bank giving you?

[benyl]

haha, I was joking around.

[sparkyg]

Originally Posted by ElCapitan

Hey Glenn what rate is the bank giving you?

Line of Credit, so prime+2

Helps to have assets to b/u the LOC, in my case a house.

Not sure if you own out there the N. Bay.

LOC offers the ability to pay down as much as I want but it is open to the market for interest rates, there is some risk there, but lower interest rate than being locked in.

You gotta have some downpayment though, can't finance all the $$$.

[ElCapitan]

Originally Posted by sparkyg

Line of Credit, so prime+2

Helps to have assets to b/u the LOC, in my case a house.

Not sure if you own out there the N. Bay.

LOC offers the ability to pay down as much as I want but it is open to the market for interest rates, there is some risk there, but lower interest rate than being locked in.

You gotta have some downpayment though, can't finance all the $$$.

Financing through BMW is also open. I got 2.4% financing through BMWFS. I do own my house but I just got it last summer and there is not enough equity in it yet.

[sparkyg]

Originally Posted by ElCapitan

Financing through BMW is also open. I got 2.4% financing through BMWFS. I do own my house but I just got it last summer and there is not enough equity in it yet.

That's dam good financing. Is that for the entire term or limited to the first few years? I know they do that sometimes.

At least you are a home owner.

[ElCapitan]

Originally Posted by sparkyg

That's dam good financing. Is that for the entire term or limited to the first few years? I know they do that sometimes.

At least you are a home owner.

2.4% for 60 months. Mind you I had a huge tradin and I put $$$ down as well. I have the option to pay it off tomorrow if I want.

[JayML]

Originally Posted by ElCapitan

Financing through BMW is also open. I got 2.4% financing through BMWFS. I do own my house but I just got it last summer and there is not enough equity in it yet.

so the bank still owns it!

j/k

2.4% is like free money almost . you expect those rates from american cars

i remember back in 1989 when my uncle leased a new 735il which listed for 64k , the lease rate was 13.9% . he was paying 1500 a month on a 64k car

nuts how times have changed.

[Lotus99]

Originally Posted by slapmyfro

i remember back in 1989 when my uncle leased a new 735il which listed for 64k , the lease rate was 13.9% . he was paying 1500 a month on a 64k car

nuts how times have changed.

Not to get too technical, but how is that relevant what he paid 20 years ago compared to today? Interest rates mainly drive the lease rates, as well as to some extent, sales incentives I'm sure. The bank rate (which is what the bank of canada lends money to other banks at) is now 3.75%, which is very low in general, compared to back in 1989 when it was 12.5%.

Given that the prime rate now is 5.25% (which is probably as low a consumer could borrow from a bank), or 1.5% higher than the bank rate, I'd say his lease rate was pretty damn good at 13.9% if the bank of canada was lending money to banks at 12.5%!

[ians]

Originally Posted by Lotus99

Not to get too technical, but how is that relevant what he paid 20 years ago compared to today? Interest rates mainly drive the lease rates, as well as to some extent, sales incentives I'm sure. The bank rate (which is what the bank of canada lends money to other banks at) is now 3.75%, which is very low in general, compared to back in 1989 when it was 12.5%.

Given that the prime rate now is 5.25% (which is probably as low a consumer could borrow from a bank), or 1.5% higher than the bank rate, I'd say his lease rate was pretty damn good at 13.9% if the bank of canada was lending money to banks at 12.5%!

Well how about, 8yr ago? When I renew my mortage, I got 5.5%(didn't remember what prime rate was but mortage rate are always floating closely with the prime rate) but 2 mth later when I lease my E46 328i, the lease rate was 9.7% and my friend also leased a CLK320 around the same time and the lease rate was 14.9%! Same thing here, if you go lease the M3 now, the lease rate will be 8.95%. The lease interest rate is more tie up to supply & demand more than prime rate.

[canada_dude]

But for someone who is on pure salary and doesn't own a company or any other deductible methods, leasing is not the way to go, IMHO.

[ians]

Originally Posted by canada_dude

But for someone who is on pure salary and doesn't own a company or any other deductible methods, leasing is not the way to go, IMHO.

No really. For my case, the end up total to lease & to finace is within $500, so to lease give me a piece of mind that if the car is troublesome in the future or the resale value dropped a lot lower than the residual then I can just return it and get a new one instead even I assume I will buy it back. I just put my buy back fund into GIC with 4% interest now, so I am cover either way.

[Marven]

Originally Posted by benyl

hmm... if the trend continues, maybe they will finally start lowering their prices.

Let's hope so...it's about time the advantage switched to the consumer now ..more and more folks are importing from the US.

[Lotus99]

Originally Posted by ians

Well how about, 8yr ago? When I renew my mortage, I got 5.5%(didn't remember what prime rate was but mortage rate are always floating closely with the prime rate) but 2 mth later when I lease my E46 328i, the lease rate was 9.7% and my friend also leased a CLK320 around the same time and the lease rate was 14.9%! Same thing here, if you go lease the M3 now, the lease rate will be 8.95%. The lease interest rate is more tie up to supply & demand more than prime rate.

Interesting, you may be right and it has to do more with the profit they want to make. They can adjust the interest rate I suppose based on your credit history too.

Home mortgages though (unless specifically tied to prime) from what I know are tied to long term interest rates, not short term ones, b/c typically they're amortized over 25 years.

[benyl]

Interest rate is completely at the discretion of BMW FS.

It is typically higher on Low volume cars as they tend to sell themselves. Higher volume usually need a low interest rate as an incentive.

Look at the ISF. It is coming out with a 9% interest rate or something ridiculous like that.