Predictably, BMW's pricer models have larger price hikes.
According to a source, BMW is going to hike prices anywhere from 1.2% to nearly 4% on a litany of models in its lineup for the upcoming 2023 model year. The most egregious include the BMW 330e and 7 Series. Allegedly, the hikes are a result of inflation. Automakers have been slowly raising prices for their models to compensate, as well as in response to lingering effects from last year's supply shortages.
In total, 41 different models will be seeing some level of market adjustment in 2023. Critically, these changes vary based on a model's trim level, often resulting in higher price hikes for higher-priced models, like the new i7 or other hot flagship models in BMW's lineup. We have attached a screenshot from i4Talk below with the full list of reported changes.
On a percentage basis, the 330e sDrive is by far the worst price hike, rising 3.7%, or $1,600 from the car's current $43,300 MSRP. Total MSRP is now $44,900. Much of the 3 Series range sees a price bump, with everything from the 330i to the M3 Competition xDrive seeing a price adjustment of some kind.
The story is much the same for the 7 Series. The BMW 740i rises 2.6% from its original MSRP of $93,300 to a new starting price of $95,700. Likewise, the 760i xDrive bumps 2.5% from $113,600 to $116,400. Those are increases of $2,400 and $2,800, respectively.
Other notable price hikes include the X3 sDrive 30i, which takes an $800 jump to $46,200. As the 2023 model year begins to roll around, we expect that a number of other brands will follow BMW's move. Inflation continues to plague the global market, and many analysts predict that a recession is imminent.
Should that truly be the case, then BMW, and other luxury brands, will be in for a tough time. During periods of recession, mainstream luxury products take a dive, and with the wealth gap in America ever-widening, automakers could feel these effects soon. We're still waiting for official confirmation from BMW regarding price hikes, so please bear that in mind for the time being.