Wednesday, November 27, 2013
By Kamal Swami
BMW announces hike of 10% on its vehicles from January 2014
In current scenario when there is news of price hike on vehicles manufactured by renowned auto manufacturing companies German luxurious car maker BMW has announced that it will also increase the prices of all its vehicles being sold in Indian car market up to ten percent from January 2014. This hike in price will range from 7% to 10% and will be applicable on all BMW and MINI vehicles.
According to Mr. Philipp von Sahr, India President BMW Group said it is a common belief at BMW group that earning profit and sustainable growth are key features to win any game. The hike in price is being done keeping all existing conditions in concern and that they do help company in retaining its strong position in market as earlier.
It should be remembered that prior to this announcement in August this year company had raised prices of its vehicles up to 5% due to decline in value of rupee which impacted on cost of imports. The wide range of BMW products being sole in Indian car market includes BMW 1, 3, 5, 6 and 7 series followed by SUVs X1, 3 and 5, sports car M Series. The prices of all these cars vary from Rs 20.9 lakh to Rs. 1.78 crore. The price of luxurious compact cars of Mini Series falls between Rs. 23.7 lakh and Rs. 33.3 lakh (ex-showroom price).