BMW to hike prices in India by up to 5% from Jan

German luxury car maker BMW today said it will raise product prices in India by up to 5 per cent with effect from first week of next month.
All the products of the company's BMW models, including the Mini range, will become costlier due to price hike.
"We want to maintain sustainable leadership in the Indian market with a strong brand and an exceptional model range with unbeatable product substance. With the price increase, BMW Group will maintain its premium positioning in the Indian luxury car segment," BMW Group India President Philipp von Sahr said in a statement.
The success of BMW Group India has always been built on long-term thinking and responsible action, he added.

At present, BMW sells a range of vehicles in India, including sedans 1, 3, 5, 6 and 7 Series, along with SUVs X1, X3, X5 and sports car M Series, which are priced between Rs 22.65 lakh and Rs 1.86 crore.
The company's luxury compact car, the Mini series, is currently available between Rs 26.55 lakh and Rs 35.20 lakh.
Earlier this week, General Motors India had announced the decision to hike prices of its entire product portfolio by up to Rs 20,000 from January in order to partially offset rising input costs.