German auto major, BMW, will increase prices by 7 to 10 per cent across it’s model range including the MINI in India with effect January 1, 2014. The move might come on the back of the depreciating value of the Indian rupee, rising inflation and rising input costs.
In reference to the price increment, Philipp Von Sahr, President, BMW Group India stated "BMW is the strongest and the most trusted luxury automotive brand in India. We offer our customers exclusively authentic premium luxury products, which are differentiated by their emotional appeal, uncompromising engineering, innovative technology and outstanding quality. Premium is beyond mainstream. It sets the pace, demands the right ideas, fortitude and determination. 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".
Meanwhile, perspective customers looking to own a BMW or MINI can purchase them at the prevalent rates before the rate hike comes into effect.