BMW follows Mercedes-Benz, announces price hike effective from January 2025
- BMW India has announced a price hike for its cars, effective from the beginning of next year.
BMW India has announced a price hike for its luxury cars in the country, which will be effective from January 1 next year. This comes immediately after its arch-rival Mercedes-Benz announced a price hike that was announced earlier this week and will be effective from January 2025. With this move, the BMW cars in India will see a price hike ranging up to three per cent across the lineup. The spectrum of price hikes will vary depending on different models.
BMW has not revealed a reason behind the price revision. However, the price hike is likely to be attributed to higher input costs, which have resulted in higher production costs.
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BMW currently sells a wide range of cars in India, which include the 2 Series Gran Coupe, 3 Series LWB, 5 Series, 7 Series, X1, X3, X5, X7, and the M340i. All of these BMW cars are locally produced in India in order to keep the pricing competitive by getting the tax benefits. Simultaneously, BMW also sells models such as the i4, i5, i7, iX1, Z4, and the entire M range of cars in India, which are brought to the country via the completely built unit (CBU) route. BMW India introduced the all-new M5 earlier this week. It is not clear if the M5 too will see a price hike or not, which will be effective from January 2025.
BMW follows Mercedes-Benz
BMW's arch-rival and leading German luxury carmaker in India, Mercedes-Benz announced a few days back that it will be increasing the price of the entire model range, effective from January 1, next year. The prices will go up by three per cent for the entire model range in the portfolio so prices will go up by ₹2 lakh for the GLC to ₹9 lakh for the top-end Mercedes-Maybach S 680 luxury limousine.
Mercedes has also said that they will offer price protection which will be valid until December 31 for all the existing and future bookings of cars that are currently not in stock. The reason for the price hike is the increased material costs, inflationary pressures, and logistics expenses leading to higher operational costs. Mercedes-Benz is absorbing the majority of cost pressures, passing a nominal portion to the market.
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