Although the German automakers said earlier this year that they were ready for the U.S. economic downturn, BMW has announced a measure to combat the eroding value of the dollar. Starting June 1, BMW will raise its U.S. prices by 1 percent across the board.
“It’s a moderate price increase that reflects the conditions in the market,” Markus Sagemann, a spokesman for BMW, told Bloomberg.
Since the start of 2008, the value of the dollar has fallen about 8 percent against the euro, meaning BMW gets fewer euros for every vehicle it sells in the U.S. With that kind of erosion, BMW’s home office in Germany has lost about 2,000 euro ($3,150) per vehicle on cars like the 5-series in just the last few months.
BMW’s U.S. sales were down 4 percent through the first four months of 2008.
05/27, 10:24 AM
posted by:
HemiRoadRunner
Screw the europeans. I’m not that much of a prick yet to buy a bmw anyway. I can’t wait until the fall so I can buy a new Challenger R/T.
05/27, 10:50 AM
posted by:
shaver
Arent there costs to build going down on the models they sell here. They should lower the costs of the US made models in Europe since the opposite exchange condition is in effect.
05/27, 10:54 AM
posted by:
johnnycanuck
Awwww. Not enough profit back to the fatherland. Where do I send my charitable donation?
05/27, 11:01 AM
posted by:
BlackX
Yeah need to squeeze more money from fatland
)
05/27, 12:06 PM
posted by:
mayer_ray_nagin
I think to offset the dollar they should build their crappy cars even ****tier to screw even more the boneheaded pricks and soccer-moms who drive bimmers.
05/27, 2:30 PM
posted by:
sanfranmac
A 1% increase vs almost 10% drop in the dollar’s value isn’t bad. BMWs may be expensive, but their engines are among the best and most fuel efficient. Even my 8 cylinder 545i gets 29-30 mpg HWY at a steady 70-75 mph. It’s BMW obsession with electronics that I’m not cray about. My Mazda 3 sport hatchback barely manages 30 mpg with a 4 cylinder 2.3 liter engine. No electrical glitches though.
Both my cars have 25,000 miles from new. With a 4 cylinder, 2.2 liter difference, the fuel consumption has been almost identical over 3 years of driving.
05/28, 9:07 AM
posted by:
Buhbye
When I see burned out bulbs on the road, it’s either a Porsche or a BMW. Wonder how the rest of the car holds up…