And one BMW will cost $5,000 more than it does now.
Only days ago, we reported on the news that Americans are keeping their cars for longer, with the average age of a vehicle in the USA now being over 12 years. Limited supply and high demand have contributed to this figure, but for many people, affordability remains a concern. That’s why keeping your older vehicle for longer is so appealing. But for those who prefer to change cars often, prices of new cars continue to rise. For BMW fans specifically, we now have new information about how much more you can expect to spend on a 2023 model. The bad news is that every single BMW will be pricier, and some will command a premium of up to $5,000 compared to 2022 equivalents.
The new pricing was revealed by a user on the Bimmer Post forum. Some price hikes won’t be bad at all. For example, the 2023 BMW M340i and M340i xDrive twins will only cost $150 more than before, with totals of $54,850 and $56,850 respectively. Other 3 Series models, also on the receiving end of a significant facelift, aren’t so lucky; the 2023 BMW 330i will cost $850 more. BMW’s strong-selling X3 will see price hikes of between $1,700 and $2,800 depending on the model, with the X3 M now requiring you to part with $72,900. In fact, many M models have received some of the highest price hikes. The 2023 BMW M4 Competition will start at $3,700 more ($78,600), the M3 Competition will also be $3,700 pricier ($76,700), and the M5’s price jumps by $4,200 to $107,900.
The new M4 CSL launches as a 2023 model at an already lofty $139,900 so its price will remain the same. The single model that will see the highest price increase is the Alpina B8. Priced at $139,900 as a 2023 model, a mid-2023 price hike of $5,000 will apply, raising the price to $144,900. Several other 2023 models will receive mid-2023 price hikes including the M8 Coupe (+$4,100), M8 Convertible (+$4,200), iX M60 (+$3,800), and both Z4 derivatives (+$1,600). If you are interested in any of these BMWs, the time to buy one is now.
The internal document also indicated that several options will cost more than more. It’s not clear if every option costs the same on every BMW, but what jumped out at us is that front/rear heated seats will cost 43% more and heated armrests/a heated steering wheel will be 40% pricier.
Based on the document, it appears that BMW has discontinued the X1 sDrive28i, leaving the xDrive28i all-wheel-drive model as the cheapest X1 derivative. No other models look to be dropped, but the 2 Series range expands for 2023 with the 230i xDrive ($39,400) and the rear-wheel-drive M240i ($47,900).
BMW isn’t alone in pushing up prices of late. Lucid will substantially increase the price of its Air sedan from June, Cadillac recently hiked prices of the popular Escalade, and Chevy increased the prices of its Silverado 2500HD.
