BMW Australia hikes up prices for the second time this year

BMW has raised the prices of some of its most popular models less than six months after it jacked up its prices across the range by as much as $5,000.

Prices of the 1 Series, 2 Series Gran Coupe, 3 Series have been raised by $1,000 while the 5 Series, X3, X4 and X6 have been given a price hike of $2,000.

The increases apply to all variants with the notable exception of the 530d, X3 M and X4 M, the latter two of which also avoided the previous round of price hikes in June.

A spokesperson told Chasing Cars the price changes were made in light of the current economic conditions.

“BMW constantly reviews its pricing structure, factoring in the exchange rate, inflation and changes to material costs,” they said.

“However, with pricing adjustments, our products always remain appropriately positioned and represent a competitive pricing proposition in the market.”

It comes as BMW declares record Australian sales in October, with 1,843 registrations translating to a 3.2 per cent increase over the previous month. Registrations – as opposed to sales – include some demonstrator stock, but the result is still a bumper month considering the wider market has experienced a 18.8 per cent downturn this year.

This year’s increase has put some of BMW’s models at notable price disadvantage to their rivals, with the much-praised BMW 330i now saddling an extra $4,000 and now costs $75,900 before on-road costs.

The new price means both the Mercedes-Benz C300 ($74,700 before on roads) and the Audi A4 45 TFSI S line Auto quattro ($68,900 before on roads) undercut their German rival and leave space for the incoming and updated Genesis G70 four-cylinder, which is expected to rise slightly above its current $59,300 price tag, when in arrives next year.

However, there are still vehicles within the BMW lineup that continue to be priced more attractively compared to other German luxury brands. BMW’s X6 M Competition super-SUV ($215,900 plus on-road costs) still undercuts its chief rival, the Mercedes-AMG GLE 63 S, by $6,800.

In the previous round of increases in June, BMW increased the cost of several models including the 7 Series, giving the six-cylinder 740Li a new price of $234,900 (before on-roads) after a $5,000 increase.

Even the BMW Z4, which only launched in 2019, received a $3,000 price increase across all trims, giving the top-spec M40i an asking price of $127,900 before on-road costs.