BMW Eyes to Raise Prices in January to Counter Weak Rupee Impact

BMW India is re-examining its vehicle prices for January as the rupee continues to slip against the euro, as per PTI reports.  

President and CEO Hardeep Singh Brar said to PTI that the currency trend has pushed up costs tied to imports, prompting the company to assess whether prices need to be revised in the new year. 

Currency Movement Raises Costs 

For 2024, BMW had budgeted around ₹93-95 per euro. Instead, the rupee has been trading close to ₹103-105, marking a decline of about 10% from the company’s estimate.  

Brar noted that this gap has added strain to overall expenses, particularly for models sourced or built with imported components. 

Earlier Increase Already in Place 

The company last revised prices on September 1, increasing them by up to 3% due to ongoing foreign exchange fluctuations and supply-related challenges.  

BMW’s current line-up in India ranges from the 2 Series Gran Coupe, priced at ₹45.3 lakh, to the XM, listed at ₹2.54 crore. The portfolio includes both combustion and electric models. 

GST Not Behind Proposed Change 

Brar said BMW did not plan any price changes after the GST adjustments earlier this year. However, the persistence of the weakened rupee has altered the situation. The euro’s continued strength has affected the company’s margins, leading to a review of prices for January. 

Read More: JPMorgan Plans to Open First New Branch in India in a Decade at Pune! 

Conclusion 

With import-linked costs rising, BMW is reviewing whether a January price increase is necessary. The company is expected to decide once it completes its assessment of currency trends. 

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