Premium car manufacturer BMW will be increasing car prices in India up to 5 per cent, from 1 April 2018. The company attributes the hike in prices to the increase in customs duty as announced in the Union Budget 2018. The company’s India product lineup includes the 3 Series, 3 Series GT, 5 Series and the 6 Series GT. Additionally, the line-up also includes the 7 Series, X1, X3 and the X5.
Recently Volvo had announced hike in car prices by five per cent, while Audi will announce price hike by four per cent from April. As for Nissan and Datsun brands, it will receive marginal price hike of about two per cent. In the Union Budget 2018, the government had announced a hike of 5 per cent in customs duty on both completely knocked down unit (for trucks, buses, cars, motorcycles) and completely built unit (for trucks and buses) imports, taking the rates up to 15 per cent and 25 per cent, respectively.
More details on the revision in prices will be known in the days to come.
