BMW's Price Protection Offer for MINI Amidst India-UK Trade Pact
BMW is offering a price protection program for the MINI 3-Door Cooper S model in India amidst pending details of an India-UK FTA. Customers will benefit from potential price reductions for six months. The initiative is aimed at alleviating buyer uncertainty regarding future tariffs.
- Country:
- India
BMW, a leading luxury automotive group, has announced a price protection assurance program for Indian customers planning to buy the MINI 3-Door Cooper S model, as an India-UK free trade agreement (FTA) looms. The offer is designed to mitigate concerns over anticipated duty reductions due to impending FTA stipulations.
The President and CEO of BMW Group India, Vikram Pawah, informed PTI that the company will pass on benefits of any prospective price cuts to buyers over the next 180 days. This move comes in response to growing customer apprehension about buying the model amid uncertainties surrounding the finalized FTA.
As part of the India-UK FTA finalized this month, automotive import tariffs are set to reduce significantly from over 100% to 10%. However, the changes are capped under quotas, with electric vehicles receiving only limited duty-free imports. This initiative assures potential buyers that BMW dealerships will refund any price differences should tariffs impact pricing.
(With inputs from agencies.)
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