The Strategist

BMW: We raised car prices in China due to rising costs

02/02/2023 - 06:03

German BMW announced that it had increased the suggested retail pricing for certain of its models marketed in China as a result of growing transportation and raw material costs. The price hikes take effect right away.

BMW increased the Manufacturer's Suggested Retail Price (MSRP) for 17 models in China, including the 5-series sedans and X5 crossovers, according to Shanghai Securities News.

MSRPs for crossovers were increased by 7,000 to 17,000 yuan ($1,037.25 to $2,519.04). BMW stated that it "frequently examines and prices its goods to adapt flexibly to changes in the cost of raw materials and manufacturing costs for the vehicles."

In China, the carmaker primarily sells cars with traditional internal combustion engines. BMW claims that the most recent information is available on its website and mobile application, and buyers may contact car dealers for more details on pricing. The business, however, declined to offer earlier costs for comparison.