BMW to raise prices by 2% in India from January
What's the story
BMW is set to raise the prices of its luxury vehicles in India by up to 2% starting January next year.
The brand is following in the footsteps of fellow German carmaker Audi. This increase is due to factors such as growing input costs and fluctuating exchange rates.
BMW's lineup in India consists of over 20 models, including electric vehicles.
Details
A minimum hike of Rs. 97,000 is guaranteed
Even the most budget-friendly option, the X1 SUV, could see a price increase of nearly Rs. 1 lakh with the 2% hike.
Currently priced at Rs. 48.90 lakh (ex-showroom), the base variant would require customers to shell out an extra Rs. 97,800.
The exact price adjustments for each model will be disclosed closer to the end of the year.
What Next?
BMW offers these cars in India
President of BMW Group India, Vikram Pawah, described the hike as a measured reaction to "evolving dynamics, fluctuations in exchange rates, and rising input costs."
BMW's locally manufactured cars include the 2 Series Gran Coupe, 3 Series Gran Limousine, 5 Series, 6 Series, M 340i, 7 Series, MINI Countryman, and X1, X3, X5, and X7.
The X3 M40i, X4 M40i, Z4, M4 Coupe, iX1, i4, i7, M5, M8 Coupe, iX, and XM, are completely built-up units (CBU) imported to India.
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What about Audi?
Audi has also announced a 2% price increase on its entire car line-up in India from next month onward. Rising input and operational costs have been cited as the reason behind the hike.