Alphabet, the fleet leasing division of the BMW, has expanded operations to Russia through a local partner.
The company has partnered with Major Profi, the leasing division of car retail group Major Auto.
Rüdiger Ebel, head of new markets at Alphabet International, said: “Major Profi has a reputation as an excellent service provider for its customers. We look forward to working with our new partners to expand our range of services in a country with a growing economy.”
Anton Sapozhkov, general director at Major Profi, added: “This is an excellent opportunity for us to join forces with a very successful partner and expert in mobility and allows us to further develop our products and services for the benefit of all our customers.
“Through this cooperation, we can provide individual solutions for our customers’ business mobility needs and fulfil the requirements of global enterprises in Russia.”
The Russian foray marks the 23rd market of operation for Alphabet, which has expanded its footprint rapidly over the last year.
Despite economic sanctions’ depressing effect on the national economy, Russia has been one of the fastest-growing European markets for leasing, partly thanks to leasing-friendly legislation passed in recent years.
In April, Renault launched a corporate leasing programme in the country through subsidiary AvtoVaz, which owns the Lada brand.