BMW India announces 3 percent price hike effective 1 Jan, 2016 – IAB Report
Posted on: Nov 26, 2015 - 8:46pm IST
Applies to CKD and CBU models.
BMW India has announced a 3 percent hike in prices of all models across the BMW and MINI range, effective 1 January 2016. The price hike applies to both locally assembled and imported CBU models.
BMW India’s range includes the BMW 1 Series, 3 Series, 3 Series Gran Turismo, 5 Series, 7 Series, X1, X3, and X5 which are all locally produced. The company recently increased its investment in India to bring up localization levels to 50 percent. The increased localization, it was announced then, wouldn’t affect the prices of the company’s current portfolio in India. Since the beginning of production in 2007, BMW India’s Chennai plant has been operating at 60-70 percent of its capacity of making 14,000 units per annum.
A majority of its components, like engines and gearboxes from Force Motors, exhaust systems from Tenneco Automotive, Axles from ZF Hero Chassis, seats from Lear India, HVAC units from Mahle India and Valeo, door panels and wiring harnesses from Draexlmaier are now localized.
BMW India’s sales for the year 2014 stood at 6,812 cars.