Amsterdam/Munich. Alphabet, the international multi–brand fleet management division of BMW Group, will further strengthen its European market position through the acquisition of ING Car Lease, a division of ING Groep N.V. The purchase price amounts to EUR 637 million. The transaction is expected to close in the fourth quarter of 2011, subject to regulatory approvals. “In the growing European fleet management market, ING Car Lease is the perfect fit to complement the activities of Alphabet. Alphabet will increase the number of company car contracts under management to approximately 540,000 and thus consolidate its competitive lead in the European fleet management market,” said Norbert van den Eijnden, head of Alphabet. Through the acquisition, Alphabet is able to provide its corporate customers with broadened services in now 16 European countries. The strengthening of the … [Read more...]

BMW 3 Series sedan engines: fascinating drive technology spanning five vehicle generations. In 1975, the sporty midrange BMW 3 Series established a new vehicle category. Innovative engines rendered it a forerunner for state-of-the-art technology. Munich. For 36 years now, the BMW 3 Series has profited more than almost any other model series from its fascinating drive technology. During a period spanning five generations, BMW 3 Series engines have time and time again been pioneers of innovative technology and milestones in engine construction. As a result, the four and six-cylinder power units, each of them having been the most modern of their time, have created the basis for the success of the internationally coveted, sporty midrange series. And what’s more: with its dynamic and consistently highly efficient drive technology, the BMW 3 Series became the founder of a new category of … [Read more...]