BMW cars to get costlier in India, company to raise prices by up to 3% from January next year

BMW on Thursday said it will raise product prices by up to 3 per cent with effect from the first week of January.

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

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

"The company believes that the 'circle of sheer driving' pleasure can only be completed by introducing innovative products, building dealerships, services that engages passionately with our clientele to deliver premium 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, sports car M Series and hybrid model i8, which are priced between Rs 29.9 lakh and Rs 2.29 crore.

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