After Audi, BMW also announces price hike on its luxury cars in India
BMW has joined its fellow German auto giant Audi in announcing price hike on its cars offered in India. The carmaker has confirmed that all luxury cars in its fleet will see increase in price from January next year. According to BMW India, the hike in price will be up to two per cent on its vehicles and will be applicable from New Year. The German car manufacturer said the price hike became necessary due to several factors including rising input costs and volatile exchange rates. BMW offers as many as 27 models in India, including five electric vehicles.
The two per cent increase in price among BMW's luxury cars could mean a jump of nearly ₹one lakh for even its most affordable offering. Currently, the least expensive BMW car one can buy is the X1, its entry-level SUV. The X1 SUV comes at a starting price of ₹48.90 lakh (ex-showroom). A two per cent hike in price of the base variant will mean a customer will need to pay another ₹97,800 to drive home the SUV. However, BMW will reveal the exact changes in price across its model lineup towards the end of this year.
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BMW has said various factors have contributed in its decision to hike prices of its vehicles in India. Vikram Pawah, President of BMW Group India, said, "BMW India’s decision to implement a price increase across the model range is a thoughtful response to a confluence of factors. In the face of evolving dynamics, fluctuations in exchange rates and rising input costs, this price adjustment will sustain the crucial balance that allows us to consistently deliver the high standards and power-packed experience our customers associate with BMW vehicles." Among the luxury cars locally manufactured by BMW includes the likes of 2 Series Gran Coupe, 3 Series Gran Limousine, M 340i, 5 Series, 6 Series, 7 Series, X1, X3, X5, X7 and MINI Countryman.
The BMW cars which are brought to India as completely built-up units (CBU) are the Z4, M4 Coupe, X3 M40i, X4 M40i, M5, M8 Coupe, XM and the electric cars iX1, i4, i7 and iX.
Earlier, Audi India had also announced price hike on its models in India from January. Pointing to rising input and operational costs, Audi India says the price hike will be around 2 per cent across all its car models.