BMW to raise prices of two US-made SUV models in China by up to 7 percent

German carmaker BMW said it will raise the prices of two U.S.-made crossover sport-utility vehicles in China to take into account the additional cost of tariffs on U.S. car imports into the world`s biggest auto market

BMW to raise prices of two US-made SUV models in China by up to 7 percent
The rates of increase suggest that BMW is willing to absorb some of the higher costs stemming from bringing the SUVs to China from the factory in the U.S. state of South Carolina. Image source: Reuters
By Reuters
Updated: Sun, Jul 29, 2018
10:14 am
Reuters
RELATED NEWS
Soon: Drive your dream Audi, Mercedes, BMW, other luxury cars, pay to Ola Soon: Drive your dream Audi, Mercedes, BMW, other luxury cars, pay to Ola
BMW drives in locally produced 620d Gran Turismo at Rs 63.9 lakh BMW drives in locally produced 620d Gran Turismo at Rs 63.9 lakh

German carmaker BMW said it will raise the prices of two U.S.-made crossover sport-utility vehicles in China to take into account the additional cost of tariffs on U.S. car imports into the world`s biggest auto market. In a move due to take effect on Monday, BMW said in a statement to Reuters on the weekend that maker-suggested retail prices of the popular, relatively high-margin X5 and X6 SUV models will increase by 4 percent to 7 percent. 

The rates of increase suggest that BMW is willing to absorb some of the higher costs stemming from bringing the SUVs to China from the factory in the U.S. state of South Carolina. It also highlights fierce competition among luxury car brands in China. (Reporting By Norihiko Shirouzu; editing by Richard Pullin)