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AUTO NEWS
Q&A
Alphera Financial Services, a division of BMW Financial Services, is poised for expansion.
The business unit was launched a year ago to provide BMW dealers with financing for the non-BMW makes they sell. Now Alphera is extending its scope to non-BMW dealers.
Alphera President Shaun Bugbee, 45, described the company's expansion plans to Staff Reporter Donna Harris.
How many dealers do you service?
We currently serve 529 non-BMW franchises related to 364 dealer groups. We are expanding our relationships with the public groups. We have a relationship with public groups Sonic Automotive, Group 1 Automotive and AutoNation. Our largest privately owned dealership group is VT.
What is your footprint?
We are in 20 major markets (spanning) 25 states. In 2008 we plan to be in 40 states.
Alphera was launched in October 2006. How has your loan portfolio grown since then?
We had $532 million in retail outstanding as of Sept. 30.
You aren't restricted to retail?
No,...