Following a wide range of price increases by Mercedes-Benz in early April, BMW became the second luxury car brand in China to usher in a price increase.
On April 12, it was learned from BMW China's official website and dealers that BMW ushered in price increases in the Chinese market, involving the price and configuration adjustment of five models of BMW 3 Series, X3, X4 Series and Z4, with prices rising by 1600-11000 yuan.
In fact, for BMW's price increase in the Chinese market, the industry has long been expected. On the one hand, due to the rise in raw materials, logistics costs, geopolitical situation and exchange rates, BBA has completed price increases in markets outside China; on the other hand, Mercedes-Benz has officially announced the price increase in the Chinese market not long ago, so it is only a matter of time before bmw or Audi price increase news.
BBA's global price hike
A few days ago, foreign media reported that Dr. Nicolas Peter, director of finance and China affairs of the BMW Group, said that the price of all BMW models sold in Germany and other parts of Europe will increase slightly by about 3% (about 3%). The reason for the price increase is mainly due to the increase in the global cost of raw materials, such as rhodium, palladium and steel. Dr Peter also said that BMW's overall manufacturing costs could increase by $1.2 billion due to the increase in raw material costs.
It is understood that in the German market, the price of the BMW 3 Series has been raised by 1,000 euros to 39,350 euros; the BMW 5 Series is also 2,200 euros higher than the starting price announced at the beginning of the year, reaching 53,700 euros.
Not only BMW, Mercedes-Benz and Audi have also opened up price increases in important markets. On April 1, BMW, Mercedes-Benz and Audi all completed price increases for all models in the Indian market. Among them, Mercedes-Benz said that it will adjust the price of all models on sale within 3%; Audi announced a 3% increase in the price of all models in India; and BMW announced that the price of all models on sale in the Indian market increased by 3.5%.
In addition to the Indian market, in Australia and other places, Audi and other car companies have also raised their prices. In January, Audi raised prices in Australia, adjusting the price of all models in 2022, ranging from $600 (about 3,800 yuan) to $7,600 (about 48,000 yuan). At the same time, BMW also made a price increase in Australia.
In the Chinese market, Mercedes-Benz took the first step in price increases. On April 6, Mercedes-Benz's official website showed that the imported C-class, imported E-class, S-class, domestic E-class, GLC long wheelbase version, as well as AMG and Maybach and other car series have been adjusted at a price, of which the CLA increase is the smallest, 3,000 yuan; the Maybach GLS 600 4MATIC Lishang edition has the largest increase, reaching 121,000 yuan.
BMW's price and configuration adjustment, BMW 3 Series long wheelbase version (from the production month in May): 325Li M sports suit and 325Li xDrive M sports suit to resume automatic parking assistance system, the price increased by 1600 yuan, the lowest increase; 330Li xDrive M sports night suit to restore mobile phone wireless charging and Wi-Fi hotspot, automatic parking assistance system Plus, BMW driving recorder, the price increased by 11,000 yuan, the largest increase.
Fuel vehicles "take over" new energy
The addition of the BBA, and even the lead, directly "took the baton" from the end of last year to visit the tide of new energy vehicles price increases.
According to incomplete statistics, nearly 30 car companies in the domestic market this year have adjusted the prices of more than 80 models, of course, most of which are new energy models. But just this morning, Great Wall's Weipai announced a price adjustment of 5,000-12,000 yuan for the coffee series models, effective April 15, most of which are plug-in hybrid models, including the fuel version of the mocha.
For more and more car companies to join, industry insiders said that there are many fish and dragon pearls, but more companies are really forced by the cost of rising helplessness. Yesterday (April 11), Cui Dongshu, secretary general of the Association, said at the monthly analysis meeting that since 2021, the shortage of chips and the increase in raw material prices have led to a speed of increase in the cost of vehicles and power batteries that has greatly exceeded the industry's expectations.
Cui Dongshu said that according to the data of the National Bureau of Statistics, the revenue of the automotive industry increased by 6% in January and February 2022, the cost increased by 8%, and the overall profit fell by 10% year-on-year, which was relatively lower than the average of 5% profit growth of the entire industrial enterprise, and the pressure on the automotive industry was huge.
Just ten days ago, Zeng Qinghong, chairman of GAC Group, also said at the financial report media communication meeting that due to the rising prices of raw materials and parts, the cost of GAC Group in 2021 increased by 7 billion yuan.
Obviously, the cost increase is no longer just the exclusive use of new energy vehicles. Under the spread of the epidemic, the cost pressure caused by the rise in raw materials, the rise in logistics costs and the suspension of production in individual regions have affected fuel vehicles. As for when audi will keep up with the price increase? It shouldn't take long.