Prices will increase by 2% across all models from BMW and Mini. The company pins the revision in pricing on increasing input costs. This is the second time BMW has hiked the prices of its products since November
In an official statement, BMW has announced that there will be a hike in prices of its products starting 4th January. The company has enforced a price hike of up to 2% across its model range including Mini products. Once again, the company attributes this price hike to increase in input costs.
Speaking about the revision in price, Vikram Pawah, President, BMW Group India said, “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. This will ensure that customer satisfaction, dealer profitability and sustainable growth, which are fundamentals of a successful business, remain strong. BMW Group India will continue to set uncompromising standards in the luxury auto industry and create customer delight.”
This is the second time BMW has revised the prices of its model range in two months. A few months back in October, the German luxury carmaker announced an increase in price by up to 3% with effect from 1st November.
BMW, however, isn’t the only luxury carmaker to announce a revision in prices – Audi and Mercedes-Benz have also made similar announcements. That being said, the Munich-based carmaker is the only luxury brand to announce two revision in such a short duration. Among other automotive brands, Mahindra has revised the prices of the all-new Thar earlier this month and prices in the two-wheeler space, KTM and Husqvarna have also increased the price of their products.