BMcar and BymyCAR partners will buy BMW Madrid

BMcar and BymyCAR partners will buy BMW Madrid

THE BMcar and BymyCAR formed a partnership and bought BMW Madrid, for an undisclosed amount, a company that recorded sales of 201.8 million euros in 2021.

“BMcar and BYmyCAR formed a ‘joint venture’ [parceria] for the purchase of BMW Madrid, the branch of the BMW Group in the capital of Spain and, at the same time, the largest agreement of the German brand in the Iberian Peninsula”, indicated, in a statement, BMcar.

When interviewed by Lusa, the group did not disclose the value of the plan.

The dealership includes the BMW, MINI and BMW Motorrad brands and last year recorded 6,919 units sold with sales of 201.8 million euros.

According to the same note, the group’s participation in this ‘partnership’ (strategic partnership) took place through the ‘holding’ of Beyond Motors Car Iberia SGPS, which is made up of the group’s shareholder base and the chairman of the BMcar Strategic Board. , Helder Boavida.

“We are sure of the step we are taking and the start of our process of promoting it internationally, in a challenging and highly competitive market, as well as having a partner that gives us all the guarantees for the success of this operation”, he said. in the same statement, the executive president of the BMcar group, Pedro Rodrigues.

This official also emphasized that the aim of the partnership established with the French group BYmyCAR, which has operations in France, Switzerland, Italy and Spain, is to “create an understanding that allows for a common, stable and permanent development plan” of operations in Iberia. Peninsula.

In 2021, BMcar registered sales of 172 million euros, 23% more than in the same period of the previous year.

In the relevant period, the group sold 3,531 vehicles with a total of 21 million euros in the after-sales area.

The group wants to exceed 570 million euros in sales in the three-year period 2022-2024.

According to the group’s strategic plan, the goal is also to sell around 12,000 vehicles and ensure approximately 115,000 intervention orders in the after-sales area.

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