BMW about to sell insurance?

Does it sound weird that BMW will now be selling insurance instead of its famous super cars and bikes?

Yes it is, but its now true that BMW will now be selling insurance to people. But that doesn't mean that BMW is quitting on cars.

BMW is planning to hit the market of retail banks like many other multi-international companies. But the reason is not that what you are thinking, BMW is still making enormous profit from selling cars, but along with cars BMW is planning to expand its business by selling insurance.

The complete incident took place when Ralph Silva, first visited BMW showroom along with its pet dog Jazz. The salesmen of BMW was showing its salesmanship by asking the name of dog and getting familiarizing with the customer. Next time when Ralph visited BMW showroom to buy a car, he was also offered car insurance, home insurance and even pet insurance for his dog Jazz, which eliminated the need for him to go for retail banks.

But does this mean that car making giants like BMW, Mercedes, Audi will now not only competing among each other but also with the retail banks?
But if this is a new strategy of this giants then retail banks will become history in a decade or two.
My advice to retail banks is to watch out and be prepare or as a saying "If you can't defeat them, join them".