BMW India has announced to increase prices by up to 4 per cent across the entire product portfolio in the country. The price hike will be in effect from 1st January 2019. However, the luxury German automaker hasn’t provided any specific reason for opting for this price hike yet.
Commenting on the price hike, Vikram Pawah, Chairman, BMW Group India said, “BMW India remains at the forefront of the luxury car market, offering ‘Sheer Driving Pleasure’ through its aspirational products and unmatched levels of customer centricity. From 1 January 2019, BMW India will increase the prices of its cars by up to 4%. BMW India will continue to present an extremely attractive value to its customers through pioneering products, best- in- class service experience and comprehensive financial solutions and offers from BMW India Financial Services.”
Earlier, BMW last increased prices this year in April 2018, in the range of 3- 5 per cent. The price hike came following a hike in import duties by Finance minister Arun Jaitley during the 2018- 19 budget increased the customs duty on CKD (Completely Knocked Down) imports from 10 per cent to 15 per cent. Hence, we can hope that this price hike is likely to be to offset increased operational costs that BMW have been bearing over the last year.
Currently, BMW manufactures the BMW 3 Series, the BMW 3 Series Gran Turismo, the BMW 5 Series, the BMW 6 Series Gran Turismo, the BMW 7 Series, the BMW X1, the BMW X3, the BMW X5 and the MINI Countryman in India. However, apart from these, the BMW portfolio in India also includes the BMW X6, the BMW Z4, the BMW M2 Competition, the BMW M3 Sedan, the BMW M4 Coupe, the BMW M5 Sedan, the BMW X5 M, the BMW X6 M and the BMW i8. These cars are available in the country as completely built- up units (CBU).
The automaker has their manufacturing plant in Chennai, a parts warehouse in Mumbai, a training center in Gurgaon NCR and development of a dealer organization across metropolitan centers of the country. The Chennai BMW Plant opened on March 29, 2007, and has since assembled over 57,000 vehicles. The fully owned subsidiary of the BMW Group in India is headquartered in Gurgaon (National Capital Region) and the carmaker has invested over INR 5.2 billion (€ 72 million) in BMW India to date. While the company currently owns 44 sales outlets in the Indian market, the total number of employees at BMW Group India is 650.
Recently this month, BMW launched the M2 Competition in India priced at Rs 79.90 lakh (ex- showroom, India). The newly launched M2 Competition is the most affordable ‘M’ models to date in the Indian market. The 2018 BMW M2 Competition takes against the likes of the Porsche 718 Cayman. And according to the reports, the manufacturer is also planning to launch the M5 Competition in the near future in the country. Also, BMW will launch the all- new 3- series sedan and the X5 SUV in the Indian market next year. Stay tuned to V3cars.com for further updates from BMW India.