BMW announced a modest 2008 mid-year price increase for the North American market, with a price protection for customers that ordered their vehicle before May 9. The BMW 2008 mid-year price increase is less than 1% for the product line came in effect on June 1.
Despite the growing price of materials and the increased exchange rate pressure, this is the first increase BMW has made in over a year.
A number of options/packages' prices and the vehicle destination charge have also been increased.
The increase does not affect however the BMW 1 Series, M3 and X6 models, which went on sale this past spring.
BMW Press Release:
Price Protection Offered for All Customer-Ordered Vehicles Prior to May 9
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.
