BMW is cutting its Irish list prices by an average of 5.1 per cent across its range, and 3.9 per cent on its Mini models, from November 1st.
According to the company, it represents an average drop of €3,296 on new BMW models and €850 on Minis. The changes are despite the 1 per cent diesel VRT surcharge announced in Tuesday’s Budget.
The drop in prices reflects the growing competition car dealers are encountering in the Republic from used imports on the back of a weaker sterling driven by Brexit. It also comes at a time when new car buyers are likely to encounter rising prices due to new EU emissions test rules, known as WLTP.
Earlier this year BMW Ireland ran a “Sterling Value” promotion offering discounts of 9 per cent, in an attempt to combat the challenge of UK imports. This promotion ended some time ago and spokeswoman explained that the new price cut is not just a temporary promotion but a permanent price cut to the list prices on its cars.
According to Paulo Alves, managing director of BMW Group Ireland: "The change in our pricing is designed to make it even more compelling for customers to stay in BMW's Irish network and offset currency fluctuations."
The price differences vary between models, with the new 520d SE automatic starting at €51,180, a drop of €2,390, and an X5 30d diesel X-Line automatic carrying a recommended retail price of €87,390, down €6,060. In the Mini range, the three-door 1.5-litre Cooper classic is down €960 to €23,935.
The announcement comes as the company confirms its pricing for the new 3 Series, launched at the Paris motor show last week. Prices start at €43,700 for a 318d SE model, and includes the 1 per cent diesel surcharge. The new 3 series arrives in showrooms next March.
