At a time when discounts are the talk of town, BMW India recently announced a price hike on its entire product portfolio. A price increase of 3 percent is to be levied across all BMW and Mini models in the country effective from the 1st of November 2020. This sudden hike in retail prices could be attributed to rising input costs and currency depreciation. The hike is not unusual as the manufacturers often undertake a cyclical revision of prices towards the end of the year. The timing is surprising as companies often wait for the festive season to end before announcing a price increase.
“BMW Group India is constantly engaged in offering aspirational products and highest levels of customer service to its exclusive clientele. BMW Group India will increase the prices of its cars by up to 3% from 1 November 2020 because of rising costs and depreciating currency. With comprehensive solutions and customer-centric offers from BMW India Financial Services and distinguished services across the dealer network, BMW Group India remains at the forefront of providing an unparalleled experience at all times”, commented Vikram Pawah, President, BMW Group India on this announcement.
The 3 percent hike mentioned here is across all Completely Built Units and locally assembled Completely Knocked Down (CKD) products. Currently, BMW 8 Series Gran Coupe, X6, Z4, M2 Competition, M4 Coupe, M5 Competition and BMW M8 Coupe are being retailed under the CBU route. While BMW 3 Series, 3 Series Gran Turismo, 5 Series, 6 Series Gran Turismo, 7 Series, X1, X3, X4, X5, X7 and MINI Countryman all fall under CKD. Under the MINI India umbrella 3-door, 5-door, Convertible, Clubman and John Cooper Works all come as CBU's.
In another news, BMW 2 Series Gran Coupe is all set to arrive on the 15th of October 2020. We can expect it to be priced in the vicinity of Rs 35 lakhs (ex-showroom), India. The coupe sedan will be powered by a 2.0-litre diesel engine paired to an 8-speed automatic gearbox.