Woodcliff Lake, NJ – January 29, 2018 … BMW Group has a longstanding commitment to leading the way in mobility services by anticipating evolving customer needs and offering products that meet them. One of the biggest shifts in the automotive industry is the adoption of the sharing economy. Increasingly customers are looking for platforms which allow them to earn additional income by renting their vehicles when not in use, or driving for ride sharing providers. Now, BMW Group Financial Services is providing the ultimate in flexible leasing with the launch of a new product that gives customers the option to use their leased vehicle to share with peers and drive for ride sharing providers.

By offering the Car & Ride Sharing Lease for both BMW and MINI vehicles, BMW Group Financial Services is giving leasing customers the flexibility to use their vehicles in ways which suit their lifestyles and preferences. BMW Group Financial Services will launch this product in January in California, Washington and Oregon.

The introduction of the Car & Ride Sharing Lease is one more way BMW Group is integrating into the fabric of the sharing economy. Their current program, ReachNow, already serves more than 75,000 members in Seattle, Portland and Brooklyn. Through the ReachNow app, members have on-demand access to more than 1,300 BMW and MINI vehicles, including the all-electric BMW i3, right in their neighborhood. Members can use any car in the fleet without needing to visit a rental counter or return to a specific location. In addition, ReachNow is extending services so members can easily get anywhere – whether they want to drive, ride or rent a vehicle.

“We are very excited to provide an industry-leading, customer-centric approach to mobility services that will allow our customers the ultimate in flexible utilization over the life of their contract with BMW Group Financial Services”, stated Ian Smith, CEO of BMW Financial Services Group, Region Americas.  “As a company, we are committed to delivering a simple and transparent solution that optimizes our already premium customer experience.”

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