BMW to hike prices by up to 5% in India
BMW Group India has announced a price increase of up to 5 per cent across the BMW and MINI product range effective August 15, 2013. The high import cost owing to the declining rupee has been marked as a major cause.
Vehicles sold in the country via the CBU route are particularly affected
BMW is not the only luxury auto maker that is hiking prices to offset the impact of the rupee's decline. Last month, Audi India increased the prices across models by up to 4 per cent.
Mercedes-Benz has also dropped hints of an upcoming price hike. "The weakening of the rupee is a concern and we have been monitoring the situation closely. However, we have not yet decided on a timeline or a quantum for increasing the prices but it looks inevitable," MD and CEO of Mercedes-BenzIndia, Eberhard Kern, said recently.
In India, BMW is currently selling CBUs of the 3 Series, 5 Series, 6 Series, 6 Series Coupe, 6 Series Convertible, 6 Series Gran Coupe, 7 Series, X1, X3, X5, X6, Z4, Gran Turismo, M3 Convertible, M5, M6 Coupe, the M6 Convertible and its luxury compact car, the Mini series.
BMW is offering a range of financial solutions to customers who purchase a BMW or MINI before August 15, 2013. BMW Financial Services India will also offer BMW lease for individuals and corporate customers along with insurance solutions.
"Following a path of sustainable growth, BMW Group India wants to maintain sustainable leadership in the Indian market with a strong brand and an exceptional model range with unbeatable product substance. The success of BMW Group India has always been built on long-term thinking and responsible action. We are making price decisions with all due care and consideration ensuring that they pay off in the long run," said Philipp von Sahr, president, BMW Group India.
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