BMW X5, i7, X1 and More to Get Expensive From January; Here's Why
All BMW models in India will see price increases of 2 per cent. Some of the main causes of the price increase include changes in currency rates and increasing input costs.
By Divyam Dubey
BMW India plans to implement a price hike across its model range by up to two per cent from January 1, 2024. The decision is due to challenges posed by increasing input costs and fluctuating exchange rates. BMW intends to disclose the exact details of the price hike by the end of the year for a transparent communication of the impact of these external factors on its offerings.
The president of BMW Group India said, ‘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.’
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Once implemented, the two per cent price hike across BMW’s luxury automobile range will likely increase even their most affordable product by around Rs 1 lakh. The extensive range of BMW luxury vehicles made in the country includes models such as the 2 Series Gran Coupe, 3 Series Gran Limousine, 7 Series, X1, X3, X5, X7, M340i, 5 Series, 6 Series, and the timeless MINI Countryman. In addition, Z4, M4 Coupe, M5, M8 Coupe, X3 M40i, X4 M40i, XM, and a few electric vehicles, including the iX1, i4, i7, and iX, are imported by BMW to India as fully built-up units (CBU).
Price Hike from Other Automakers
BMW's plan to increase the prices of its products is in line with a broader industry trend of several automotive manufacturers implementing a price hike for their products. Audi's price increase of 2 per cent across the board is set to be implemented in January in response to rising input and operational costs.
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Tata Motors has also announced a price increase of up to 3 per cent for its commercial cars, effective January 1. This trend highlights how different economic variables in the car industry affect manufacturers.
