The car manufacturer held initial meetings with the shortlisted agencies yesterday (Monday), with pitches for the business due to be held next month.
The process is being handled by the AAR.
WCRS, which is owned by Engine, has been the incumbent on the advertising account for almost 30 years.
Dare is the incumbent on the brand's digital business, and Euro RSCG KLP currently handles the direct marketing account.
Dare will pitch as part of Engine in a bid to retain the business.
Karmarama will pitch in collaboration with DM shop Meteorite, while VCCP will pitch alongside fellow Chime Communications agency Stephens Francis Whitson.
BMW called a pitch for its advertising business last month as part of an effort to achieve a more streamlined approach to its marketing activity.
Last year, the car manufacturer appointed GSD&M Idea City as the lead agency on its global advertising account, and Vizeum to handle its UK media business.
This article was first published on campaignlive.co.uk