BMW Announces Modest Mid-Year
Price Increase
Woodcliff Lake, NJ - BMW announced
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.
(June 2, 2008)
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