CHENNAI: German luxury carmaker BMW on Thursday announced a 3-5.5 per cent hike in prices across its models from April 1 following a hike in the import duty on spare parts.“We will be correcting the prices of the entire model range by an average 3 per cent to a maximum of 5.5 per cent depending on the model.
This is to reflect the import duty hike in the budget on CKDs,” Vikram Pawah, the president of BMW Group India, said here, flanked by the company’s brand ambassador Sachin Tendulkar after announcing a skilling initiative called Skill Next. As part of ‘Skill Next’, a technical skill training initiative launched on Thursday to coincide with the 11th anniversary of the car manufacturer’s Chennai plant, BMW Group India will distribute 365 BMW engine and transmission units free to engineering and technical institutes across the country to help students get hands-on training.
The units will be distributed to engineering colleges, industrial training institutes and polytechnics by the year-end on a first come, first served basis.According to Pawah, “The next phase of growth in the luxury car market will come from the small towns”.