Segment Y : BMW hikes price of entire range of cars in India

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Luxury car maker BMW on 2nd January said it has hiked the prices of its entire range of cars, including the Mini brand, in India by up to 6% with immediate effect.

"BMW Group India has announced a price increase for the BMW and Mini product range effective January 1st, 2013," the company said in a statement.

The price increase will range between 5% and 6%, it added.

After the hike, the BMW range is priced between Rs. 2.55 million (US$ 46,800) and Rs. 14.2 million, while the Mini brand would cost between Rs. 2.66 million and Rs. 3.75 million.

Commenting on the development, BMW Group India President Philipp von Sahr said: "We want to maintain sustainable leadership in the Indian market with a strong brand and an exceptional model range with unbeatable product substance. With the price increase, BMW Group will maintain its premium positioning in the Indian luxury car segment."