BMW look set to join the car hire market with news they are about to introduce an hourly car rental scheme in Munich.

The luxury car maker is planning to debut the new car hire system close to the company’s head quarters in Munich. BMW will offer a range of its top vehicles for hire in the city, all of which are available to hire by the hour.

BMW’s decision to introduce a car hire scheme comes as statistics show that more and more people are opting to hire cars, instead of owning them. With the current economic climate, many people are choosing to a hire a car for the times when they need their own transport, in order to save on the cost of running a car of their own.

Daimler have already introduced a similar scheme, Car2Go, which offers Peugeots and Smart Cars for hire on a short term basis. Known as the Mu scheme, the system is in the process of expanding across Europe.

For just €16 an hour, customers can hire a 1 Series Compact from the luxury car manufacturer, and for €32 an hour you can drive away in a 7 Series Sedan BMW. The scheme offers consumers the opportunity to hire top class vehicles for special occasion such as weddings and birthdays at a reasonable rate, as well as providing clients visiting the city on business the freedom to get about in their own high quality vehicle.