Cheap new BMW's in Bulgaria - have you heard ?
Tom Collins
01-08-2009, 06:12 AM
Hi Guys,
My name is Tom, and I am lets say “fresh” BMW fan – I recently bought a 2005 E60 M5 – I have to say a great car (the transmission is a bit too hard to understand, but I am getting used to it), and my wife has a company car BMW X5 4.8i –also not a bad SUV I’d say…
We gathered in our neighborhood few friends that are interested in nice BMW cars – mainly sports edition models, like M5, M6, M3 or 335i or 650i and we started to discuss how to use the global financial crisis in order to buy cheap luxury cars now..(don’t get me wrong, we are from the IT business and there is no crisis for us still..:)), so the idea is to import from East Europe – Bulgaria, Romania or other country.
I would be interested in anyone of you can post some ideas or info that you may have on the subject…such as this: look what one of my friends found in a BMW forum:
“BMW in Bulgaria is selling new cars with 35% discount from retail price !!!
The ex-importer and now an EU dealer in Bulgaria for BMW and MINI – Kamor Auto (an Israeli owned group, part of Kamor Vehicles chain, that sell BMW in Israel for more than 30 years) started in December 2008 a massive off-sale campaign for new BMW vehicles. Since the global financial crisis struck in former east-European countries first the luxury car market – Kamor Auto started literary “selling” the business as it is. The sold fresh new cars to any customer with 20% discount + free options like winter tires gifts or free 1 year Insurance, etc., and for “old” stock cars, which apparently collected the dust in their showroom for quite long time, one could get a 30~35% hot deal if you bring some advance payment in your pocket. Local journalists say that this will continue until they get rid of all the stock of cars which they have (currently around 300 new cars and 100 young used cars, demonstrators and press cars) and then the Israeli owners will try to liquidate the whole company in a quick sale. There were recent publications in the Bulgarian press that the CEO of the company (who was fired in 2007 from a Motorolla department in Angola due to a corruption scandal) is making day to day illegal business deals with the local mafia representatives for collecting quick cash in the company’s funds – such as leasing and sales contracts frauds, in order to push up quick remuneration from the bank for the financing of the clients cars. He was also accused of corruption to the official authorities in the country, while trying to win a government tender for a huge quantity of armored 7 series. Looking at the company performance statistics, which is getting down to 20 cars retailed per month (compared with 49 average for 2007), one could say that now is the time to get a good deal for a new BMW from them, or why not a whole dealership!”
My name is Tom, and I am lets say “fresh” BMW fan – I recently bought a 2005 E60 M5 – I have to say a great car (the transmission is a bit too hard to understand, but I am getting used to it), and my wife has a company car BMW X5 4.8i –also not a bad SUV I’d say…
We gathered in our neighborhood few friends that are interested in nice BMW cars – mainly sports edition models, like M5, M6, M3 or 335i or 650i and we started to discuss how to use the global financial crisis in order to buy cheap luxury cars now..(don’t get me wrong, we are from the IT business and there is no crisis for us still..:)), so the idea is to import from East Europe – Bulgaria, Romania or other country.
I would be interested in anyone of you can post some ideas or info that you may have on the subject…such as this: look what one of my friends found in a BMW forum:
“BMW in Bulgaria is selling new cars with 35% discount from retail price !!!
The ex-importer and now an EU dealer in Bulgaria for BMW and MINI – Kamor Auto (an Israeli owned group, part of Kamor Vehicles chain, that sell BMW in Israel for more than 30 years) started in December 2008 a massive off-sale campaign for new BMW vehicles. Since the global financial crisis struck in former east-European countries first the luxury car market – Kamor Auto started literary “selling” the business as it is. The sold fresh new cars to any customer with 20% discount + free options like winter tires gifts or free 1 year Insurance, etc., and for “old” stock cars, which apparently collected the dust in their showroom for quite long time, one could get a 30~35% hot deal if you bring some advance payment in your pocket. Local journalists say that this will continue until they get rid of all the stock of cars which they have (currently around 300 new cars and 100 young used cars, demonstrators and press cars) and then the Israeli owners will try to liquidate the whole company in a quick sale. There were recent publications in the Bulgarian press that the CEO of the company (who was fired in 2007 from a Motorolla department in Angola due to a corruption scandal) is making day to day illegal business deals with the local mafia representatives for collecting quick cash in the company’s funds – such as leasing and sales contracts frauds, in order to push up quick remuneration from the bank for the financing of the clients cars. He was also accused of corruption to the official authorities in the country, while trying to win a government tender for a huge quantity of armored 7 series. Looking at the company performance statistics, which is getting down to 20 cars retailed per month (compared with 49 average for 2007), one could say that now is the time to get a good deal for a new BMW from them, or why not a whole dealership!”
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