BMW India has officially declared a price hike of up to 2% across its entire model range, scheduled to take effect from January 1, 2024. This announcement comes shortly after Audi India revealed a similar move, as several automakers brace for the impact of various economic factors. BMW Group India has announced a price hike for its luxury car model range in the country, with the increase set to be up to 2%. This adjustment in prices is scheduled to take effect from January 1, 2024. The decision to implement the price hike is attributed to various factors, including fluctuations in exchange rates and rising input costs.
Vikram Pawah, President of BMW Group India, explained that this decision is a thoughtful response to the evolving dynamics of the market. He mentioned that in the face of fluctuations in exchange rates and rising input costs, the price adjustment is aimed at maintaining a crucial balance. This balance will enable BMW to consistently deliver the high standards and power-packed experience associated with its vehicles.
BMW's diverse portfolio in India includes 27 models, covering sedans, SUVs, and electric vehicles. The lineup features locally produced cars such as the BMW 2 Series Gran Coupe, BMW M 340i, BMW 3 Series Gran Limousine, BMW 5 Series, BMW 6 Series, BMW 7 Series, BMW X1, BMW X3, BMW X5, and BMW X7, along with the MINI Countryman. Additionally, models like the BMW XM, BMW M4 Coupe, BMW Z4, BMW X3 M40i, BMW X4 M40i, BMW M5, BMW M8 Coupe, and electric cars such as the BMW iX1, BMW i4, BMW i7, and BMW iX are available in the country as completely built-up units (CBUs).
This move by BMW aligns with the broader industry trend, where several automakers in India are adjusting prices for the upcoming year. The increase in prices is capped at a maximum of 2%, and consumers can expect the new pricing to be effective from the beginning of 2024. The adjustment is expected to impact various models across the range, with the highest-priced models experiencing a more substantial increase compared to the more affordable ones.