The new car market is still struggling to produce enough vehicles to meet customer demand. This, along with several other factors, continues to drive up prices, and we are seeing price increases from virtually all brands. BMW is one of the brands that hasn’t shied away from raising the prices of most of its products in the United States, and it appears that another price increase is on the way.
A post on the Bimmerpost forums sheds more light on BMW’s 2023 model year pricing. Almost all base prices have increased and will be effective with vehicles produced beginning January 1. The German automaker blames the price increase on “current economic and political volatility, as well as a continuing supply shortage.” Once the January allocation is available, all changes will be reflected in all subsequent pricing systems.
That doesn’t mean we can’t get our hands on the new prices. According to the information available, the increase ranges from 1.2 percent to 3.3 percent depending on the model series. This translates to a savings of between $600 and $2,800 on selected models, with the BMW 760i xDrive (G70) seeing the biggest increase from $113,600 to $116,400. The M5 is also worth noting because its price increased in June of this year and is now $109,900.
It is also worth noting that not all price increases will take effect on January 1. Pricing changes for the i4 and 7 Series will be reflected in the ordering guides beginning March 1. All new prices will be available on BMW’s official websites and online configurators in the United States shortly.
The truth is, BMW is not alone in raising the prices of its new vehicles. Many automakers, including Subaru, Audi, and Lexus, have released revised prices for their portfolios for the 2023 model year, and we expect more to follow suit.