Press release | 2022.06.07

BMW Financial Services Thailand appoints Mr. Karsten Stumpf as new Chief Financial Officer

Bangkok. BMW Financial Services Thailand has appointed Mr. Karsten Stumpf as Chief Financial Officer, succeeding Mr. Wilfried Lux – who is designated to start a new position as Chief Financial Officer of BMW Financial Services, in Mexico – from 1st July 2022 onward.

With extensive background and experience gathered in financial services, Mr. Karsten Stumpf commenced his career in Business Development at BMW Financial Services headquarters in Munich, Germany, before he was offered the opportunity to join the Controlling Department in the UK subsidiary. After holding a position in the Strategy department at Munich headquarters, Mr. Karsten Stumpf’s work journey in Asia commenced with his previous role as CFO in BMW Financial Services India, and now continues eastward by taking up the position of CFO of BMW Financial Services Thailand.

Mr. Bjorn Antonsson, Chief Executive Officer, BMW Financial Services Thailand, stated: “I would like to express my sincere gratitude towards Mr. Lux for his dedication, passion and expertise which supported the success of BMW Financial Services in the recent years. On this occasion, it is my pleasure to welcome Mr. Karsten Stumpf as our new Chief Financial Officer for BMW Financial Services Thailand. With his experiences in financial services, I’m confident that we can continue to build on our strong position in the Thai market and improve our services to customers’ financial demands.”

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  • The BMW Group     

    With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is the world’s leading premium manufacturer of automobiles and motorcycles and also provides premium financial and mobility services. The BMW Group production network comprises 31 production and assembly facilities in 15 countries; the company has a global sales network in more than 140 countries.

    In 2021, the BMW Group sold over 2.5 million passenger vehicles and more than 194,000 motorcycles worldwide. The profit before tax in the financial year 2021 was € 16.1 billion on revenues amounting to € 111.2 billion.  
    As of 31 December 2021, the BMW Group had a workforce of 118,909 employees.

    The success of the BMW Group has always been based on long-term thinking and responsible action. The company set the course for the future at an early stage and consistently makes sustainability and efficient resource management central to its strategic direction, from the supply chain through production to the end of the use phase of all products.

    BMW Group Thailand 

    BMW Group Thailand, a subsidiary of BMW AG, Germany, was established on the 3rd October 1998. The four entities of BMW Group Thailand are BMW (Thailand) Co., Ltd. with responsibility for wholesales & marketing of BMW Group products, BMW Manufacturing (Thailand) Co., Ltd. with responsibility for BMW and BMW Motorrad local production, BMW Leasing (Thailand) Co., Ltd. with responsibility for financial services offerings to both wholesale and retail customers, and BMW Parts Manufacturing (Thailand) Co., Ltd., with responsibility for supplying components for the assembly of BMW Motorrad vehicles at BMW Group Manufacturing Thailand’s Plant in Rayong.  
    In 2021, BMW Group Thailand recorded a stable performance with 11,032 BMW and MINI registrations. A total of 9,982 BMW vehicles and 1,050 MINI vehicles were registered last year. BMW Motorrad Thailand maintained its performance in 2021 with 1,197 motorcycle registrations. 

    On the production side, the BMW Group Manufacturing Thailand plant was founded on BMW Group’s strong belief in the growth potential of Asian markets and Thailand in particular with its unique location, strong manufacturing base, and ready supply of skilled automotive labour, being an automotive hub for ASEAN. On-going investment has been put into the expansion of plant Rayong in terms of assembling processes, aiming to meet growing customer demand. In addition, with approximately 4 billion Thai Baht representing the amount of annual purchasing in Thailand, the BMW Global Purchasing office has been established in Thailand. This is to source various components from local suppliers in Thailand and the broader ASEAN region, in order to supply the entire BMW production network of 31 production and assembly facilities, located in 15 countries worldwide.

    BMW Group Manufacturing Thailand produces the following 18 models: BMW 2 Series, BMW 3 Series, BMW 5 Series, BMW 7 Series, BMW X1, BMW X3, BMW X5, BMW X6 and BMW X7. For BMW Motorrad, the BMW F 900 R, BMW F 900 XR, BMW F 750 GS, BMW F 850 GS, BMW F 850 GS Adventure, BMW R 1250 GS, BMW R 1250 GS Adventure, BMW S 1000 R and BMW S 1000 RR are also locally assembled at the plant. In addition, BMW Group Manufacturing Thailand now assembles five BMW plug-in hybrid models; BMW 330e, BMW 530e, BMW X3 xDrive30e, BMW X5 xDrive45e and BMW 745Le xDrive. 

    For further information, please contact:   
    BMW Group Thailand    
    1397   

    www.bmw.co.th    
    www.mini.co.th    
    www.bmw-motorrad.co.th

    Media Contacts:   
    Carl Byoir & Associates   
    Suthatip Boonsaeng (08-7685-1695 or 0-2627-3501 ext.102)   
    Pawalisa Thanawajeran (08-6564-4726 or 0-2627-3501 ext.125)  
    Nawapas Seesarin (08-2654-9447 or 0-2627-3501 ext. 126)
    Jirawat Akachan (09-3636-1241 or 0-2627-3501 ext. 101) 
    sboonsaeng@carlbyoir.com, pthanawajeran@carlbyoir.com, nseesarin@carlbyoir.com, jakachan@carlbyoir.com