BMW's Record Breaking Year - Prices Hiked Despite New Highs in Sales

Delhi : For German luxury automaker BMW, this year has proven to be the strongest one ever; the business has already surpassed its 2018 high of 11,105 in sales from January to November.

"We have witnessed vehicle sales jump 40% year-over-year and motorbike sales rise 46% in January-November 2022," said Vikram Pawah, president of BMW Group India. The finest year ever for BMW in India has just passed.

The business is also thinking about raising prices in January 2023.

We will have to accept a price rise, but we have not yet determined if it will be applied throughout the spectrum or how much it will be, he continued. "There is a tremendous pressure on raw material costs, logistics cost, and price of electric components," he said.

Over the weekend, the business unveiled the S1000 RR motorbike, which has a price range of Rs 20.3-24.5 lakh. Deliveries of the imported motorbike S1000 RR will start in February. According to Pawah, this is consistent with BMW's twin approach of producing both in India with partner TVS and delving into its worldwide portfolio.

BMW won't reach peak capacity at its Chennai facility for another two to three years, despite the "solid recovery" following Covid.