BMW India announces 3% hike in car prices from January

BMW, on Thursday said it will raise product prices by up to3 per cent with effect from the first week of January.

All the products of the company, including the Mini range, will become costlierdue to the price hike.

"The increase in prices is in continuation of our endeavour to offer themost aspirational and exceptional products to our customers and on adding morevalue to their overall ownership experience," BMW Group India, President,Philipp von Sahr said in a statement.

"The company believes that believes that the 'circle of sheer driving'pleasure can only be completed by introducing innovative products, buildingdealerships, services that engages passionately with our clientele to deliverpremium services ahead of its time," he added.

At present, German luxury car maker sells a range of vehicles in India,including sedans 1, 3, 5, 6 and 7 Series, along with SUVs X1, X3, X5, sportscar M Series and hybrid model i8, which are priced between Rs 29.9 lakh and Rs2.29 crore.

The company's luxury compact car, the Mini series, is currently availablebetween Rs 28.5 lakh and Rs 36.5 lakh.