The festival season is over and car makers are already gearing up for price mark ups in the New Year. Stung by the slide in the rupee, the high import content luxury cars have been the first to announce the hikes. BMW India has announced a price increase from 7 -10% across the BMW and MINI product range effective January 1, 2014.
Said Philipp von Sahr, President, BMW Group India said, "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."
Announcing price hikes in January to push year-end stock has now become standard marketing practice in the auto industry in India. Typically December stock has proved difficult to move because customers prefer new model year cars. Car marketers announce price hikes in January to move the year-end stock before new year.
Said Philipp von Sahr, President, BMW Group India said, "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."
Announcing price hikes in January to push year-end stock has now become standard marketing practice in the auto industry in India. Typically December stock has proved difficult to move because customers prefer new model year cars. Car marketers announce price hikes in January to move the year-end stock before new year.
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