New Delhi, December 12: BMW has announced that it will be increasing the prices of its luxury car model range in India by up to 2% starting from 1 January 2024. This decision comes on the heels of a similar move by rival Audi a few days back. As both automotive giants adjust their pricing strategies, customers can anticipate a shift in the premium car market landscape in the coming year.

According to a statement released by BMW Group India President Vikram Pawah, "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." Tesla Threatens To Sue Owners for USD 50,000 If They Sell Newly-Launched Cybertruck Within First Year.

BMW Car Models

BMW's portfolio in India is diverse, encompassing 27 models that include sedans, SUVs, and electric vehicles. Notably, 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.

In contrast, 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, these units come as completely built-up units (CBUs), which subject to different pricing dynamics. Kinetic Green Zulu E-Scooter Launched in India: Check Price, Specifications and Features of Kinetic Electric Scooter Here.

The increase is capped at a maximum of 2 percent, which, when applied to the most expensive model in BMW's Indian fleet-the BMW XM, priced at Rs 2.60 crore (ex-showroom), is expected to translate to an uptick of up to Rs 5.20 lakh. On the other end of the spectrum, the most affordable car in their range, the BMW X1, currently tagged at Rs 48.90 lakh (ex-showroom), is expected to see a more modest rise of around Rs 1 lakh.

(The above story first appeared on LatestLY on Dec 12, 2023 06:38 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).