Gurugram: Luxury carmaker BMW has announced it will hike prices of all its vehicle models present in the Indian market from April 1. In a statement, BMW on Friday said prices will be increased up to 3.5% across its entire model range. “The price increase will be brought into effect to adjust the material and logistics costs, the impact of the current geopolitical situation and exchange rates,” the carmaker said.
The range of locally produced cars includes– the BMW 2 Series Gran Coupe, BMW 3 Series, BMW 3 Series Gran Limousine, BMW M 340i, BMW 5 Series, BMW 6 Series Gran Turismo, BMW 7 Series, BMW X1, BMW X3, BMW X4, BMW X5, BMW X7 and MINI Countryman.
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BMW dealerships also display BMW 8 Series Gran Coupe, BMW X6, BMW Z4, BMW M2 Competition, BMW M5 Competition, BMW M8 Coupe, BMW X3 M, BMW X5 M and BMW iX which are available in the country as completely built-up units (CBU).
Earlier, another luxury carmaker, Mercedes-Benz India had announced an upward revision in price of its entire model range effective from April 1.
According to Mercedes-Benz India, the imminent price correction would be in the range of 3 per cent across the entire model range. It said that the constant increase in input prices in addition to an increase in logistics rates have been exerting significant pressure on the overall costs of the company.