BMW, MINI cars to get costlier from July 1
What's the story
BMW Group India has announced a price hike of up to 2% across its entire range of BMW and MINI vehicles. The change will come into effect from July 1. The company said the increase will apply to both locally-produced and completely-built-up units under the BMW and MINI brands. Hardeep Singh Brar, President and CEO of BMW Group India, said this move is aimed at maintaining their premium standards amid macroeconomic challenges such as rupee depreciation and rising logistics costs.
Impact
Affected vehicles
The price hike by BMW Group India will affect a wide range of its vehicles. This includes locally-produced models such as the 2 Series Gran Coupe, 3 Series Long Wheelbase, 5 Series Long Wheelbase, 7 Series, X1, X3, X5, X7, M340i, and iX1 Long Wheelbase. The company also sells CBUs like i5 M60 and i7 among others.
Previous increase
BMW Group India's previous price hike
The upcoming price hike is not the first for BMW Group India this year. The company had already increased prices in April, citing similar reasons such as rupee depreciation and rising logistics costs.