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BMW M Division Dealership Opens in Singapore

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On: Thu, Aug 19, 2010 at 10:35AM | By: Sherry Christiansen


BMW M Division Dealership Opens in Singapore

 

In recent automotive news, BMW is adding a new showroom for selling only high performance BMW M division cars in Singapore; it is located at Teban Gardens Crescent.  Cars to be offered in the showroom include M3, M6, X5M, and all of the X6M models. The next-generation M5, to be released next year, will join the line up in Singapore, as well as a new M version of the BMW 1-Series.

The showroom is the very first of its kind anywhere in the world and is owned by Munich Autos.

BMW has announced that the grand opening on August 2nd in Singapore is just a stepping stone to offering M Division BMWs around the world, according to a statement to the Bloomberg News by Dr. Kay Segler, BMW’s M Division manager.

The new showroom has some interesting elements including a sound wall that displays different BMW M model engines revving and a display featuring historic moments in BMW’s history.

It all sounds very feasible until you learn about the bottom line—the price. It seems that Singapore has an incredibly high automotive tax rate (one of the most expensive in the world) and the cost for buyers to purchase the imported M model BMW is around $300,000. Believe it or not, here is the formula used to come up with the price: Registration Fee + Cost Price + Road Tax + COE + additional registration fee (140% of OMV), and customs duty of 31% of OMV.

Many critics are questioning Munich Auto’s motives for launching the first store in a market that has one of the highest auto tax rates in the world; if the store fails it will be difficult to say if it was because of the inflated prices, or if there is simply not a large enough market to justify an M-only BMW dealership. At any rate, at those prices; it’s difficult to imagine that the M-only BMW dealerships will become a household name. For now the jury is out and only time will tell if the Singapore franchise will be a success or not.


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