New Delhi, December 21: German luxury carmaker BMW on Monday said it will increase prices of its entire model range in India by up to 2 per cent from next month. The automaker will introduce the revised pricing for all BMW and MINI models effective January 4, 2021, BMW Group India said in a statement.

Prices will increase by up to 2 per cent across the portfolio, it added.

"In an unprecedented year, the company has been focused on providing best-in-class products and unparalleled services to its esteemed clientele. From January 4, 2021, BMW Group India will introduce the new pricing for BMW and MINI portfolio, increasing the prices marginally by up to 2 per cent to offset the increasing input costs," BMW Group India President Vikram Pawah said.

This will ensure that customer satisfaction, dealer profitability and sustainable growth, which are fundamentals of a successful business, remain strong, he added.

The company sells a range of locally produced cars in India including the 2 Series Gran Coupe, 3 Series, 3 Series Gran Turismo, 5 Series, 6 Series Gran Turismo, 7 Series, X1, X3, X4, X5, X7 and MINI Countryman.

BMW also sells 8 Series Gran Coupe, X6, Z4, M2 Competition, M5 Competition, M8 Coupe, X3 M and X5 M which come as completely built-up units (CBUs).

Besides, the MINI dealerships also showcase the MINI 3-door, MINI 5-door, MINI Convertible, MINI Clubman and MINI John Cooper Works Hatch as CBUs. Rival Audi has already announced a price increase of up to 2 per cent across its entire model range, effective from January 1 next year.

Besides, mass market players like Maruti Suzuki India, Renault India, Honda Cars, Mahindra & Mahindra and Ford India have also planned to increase prices from next month. Two-wheeler major Hero MotoCorp has also announced that it will increase the price of its vehicles by up to Rs 1,500 from January 1, 2021, to offset the impact of rising input costs.