Luxury on wheels will now cost you a little more. German carmaker BMW has announced that from January 1, 2014, BMW and MINI cars are set to get more expensive as the group has announced a seven per cent to 10 per cent price increase across its products.
Not a very good start to the New Year for BMW customers, but the company believes that profitability and growth should be achieved simultaneously. Commenting on their move, Philipp von Sahr, president, BMW Group India said, “At BMW Group, we believe that both profitability and growth are essential for a win-win situation at the end. We are making price decisions with all due care and consideration ensuring that they pay off in the long run.”
The cars that are produced by BMW at their Chennai plant itself, like the 1 Series, the 3 Series, the 5 Series, the 7 Series, the X1 and the X3 will show a marginal increase. The rest of the products, especially those that are bought in as completely built-up units will be heavy on the pocket. The BMW 6 Series Coupe, the 6 Series Convertible, the 6 Series Gran Coupe, the X5, the X6 and the BMW Z4 are presently available in the country as CBUs.
Previously at the launch of the BMW Z4 Roadster, the BMW Chief was quoted in an article by Financial Express as saying, “We do not want to be No. 1 at any price. Unlike competition, BMW will not enter the market with discounted cars. We are a premium brand selling a premium product at premium price. If you give discounts you are out of the market.”
The BMW group also believes that they do not see growth returning to the Indian market and would therefore be concentrating on their own company’s rise. This move could gain the competition some customers but the German automaker is confident that this price rise will be beneficial to them in the long run.
Source: Financial Express
