BMW becomes latest in growing list of car makers to hike prices come January
BMW Group India on Monday informed that it will revise prices for all BMW and MINI models from January 4 of the new year. The prices will be hikes by up to two per cent across all models.
Blaming input costs, BMW states that it has become necessary to pull up prices from next month onwards. ". From 4 January 2021, BMW Group India will introduce the new pricing for BMW and MINI portfolio, increasing the prices marginally by up to 2% to offset the increasing input costs," said Vikram Pawah, President at BMW Group India. "This will ensure that customer satisfaction, dealer profitability and sustainable growth, which are fundamentals of a successful business, remain strong."
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BMW currently offers 8 Series Gran Coupe, BMW X6, BMW Z4, BMW M2 Competition, BMW M5 Competition, BMW M8 Coupe, BMW X3 M and BMW X5 M in the country. Mini dealerships have MINI 3-door, MINI 5-door, MINI Convertible, MINI Clubman and MINI John Cooper Works Hatch on offer.
Car makers like Maruti, Honda, Renault, Mahindra and Mahindra, Ford - among others, have also announced price hikes on their products on offer. Two-wheeler major Hero MotoCorp has also announced that it will increase price of its vehicles by up to ₹1,500 from January 1, 2021 to offset the impact of rising input costs.
Among luxury car makers, Audi will also hike the ex showroom prices of its models while others are expected to follow.
The good news though is that the new year brings with it the promise of new launches galore, widening the choice Indian buyers have in most passenger vehicles' segments.