autoinsane.com - BMW Announces Mid-Year Price Increase

BMW Announces Mid-Year Price Increase

Written by Zane Merva
Tuesday, 03 June 2008
BMW announced today that it has implemented a modest mid-year price increase of less than one percent for its 2008 product line, effective as of June 1. This is the first price increase in over one year despite continually rising raw materials costs and ongoing exchange rate pressure. Minor increases have also been made to selected options/packages, as well as the vehicle destination charge. The base price increase will affect the entire 2008 BMW product line, with the exception of the BMW 1 Series, M3 and X6 models, which all went on sale this past spring. The destination charge increase and the selected option price increases affect all models. Additionally, anyone who factory ordered a BMW vehicle prior to May 9 that will be delivered after June 1, will receive price protection from these increases. “Despite a mixed economic outlook in the US market, these measures are in line with pricing trends in the automotive industry,” said Tom Purves, Chairman of BMW of North America, LLC. BMW has historically held its price adjustment to well below the US inflation rate. The last base price increase, of 0.5 percent, was instituted in March 2007. Bookmark Email This Trackback(0) TrackBack URI for this entry Comments (0) Subscribe to this comment's feed Write comment Name Email Title Comment smaller \| bigger Subscribe via email (Registered users only)