BMW cars in India would see a price hike of around 2%, applicable from January 2024 onwards. The carmaker has stated that this price hike is due to various reasons, including – market conditions, swings in exchange rates and, of course, a rise in input cost.
HIGHLIGHTS:
- BMW cars are about to get expensive in the coming month.
- Rise in input cost is one of the major reasons behind this hike.
- All the models, including the CBU models, would face this hike.
BMW Price Hike: In Detail
The carmaker is clear about it, and therefore, the price hike announcement is here around fifteen days prior. BMW India says that, as of now, it has decided that the new prices will be applicable from 1st January.
The models that are affected by the price hike are the 2 Series, 3 Series, 5 Series, 6 Series, 7 Series, X1, X3, X5, X7 and M340i. The electric models such as the iX1, i4, i7 and iX are also going to be affected by this price hike.
BMW also confirmed that several premium models that are available in India as Completely Built-Up Units (CBU) will fall under this hike. This includes some big names – Z4, M4 Coupe, X3 M40i, X4 M40i and iX.
Cars such as the MINI Countryman are also expected to receive a similar price jump.
While addressing the media, Mr Vikram Pahwa, President of BMW Group India, added, “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.”
Also Read: 2023 BMW M340i xDrive: Practical Sedan With Sportscar DNA – Quick Review