BMW to raise prices of two US-made SUV models in China by up to 7 percent

BEIJING (Reuters) - German carmaker BMW said it will raise the prices of two US-made crossover sport-utility vehicles in China to take into account the additional cost of tariffs on US car imports into the world’s biggest auto market. In a move due to take effect , BMW said in a statement to Reuters on the weekend that maker-suggested retail prices of the popular, relatively high-margin X5 and X6 SUV models will increase by 4 percent to 7 percent. The rates of increase suggest that BMW is willing to absorb some of the higher costs stemming from bringing the SUVs to China from the factory in the US state of South Carolina. It also highlights fierce competition among luxury car brands in China.