If you're in the market for a Bimmer, now is the time to buy.
is raising prices this year and next to help ease the burden of unfavorable exchange rates between European currencies and the weak U.S. dollar. CEO Norbert Reithofer told reporters that the company would also produce 20,000 to 25,000 fewer vehicles overall in 2009 and sell 40,000 fewer units in the U.S. Disastrous exchange rates aren't team Bimmer's only problem, either. The German automaker
of its vehicles in the U.S. during a time when sinking residuals are losing automakers billions.
A quick look at
July sales figures
shows that even the best-run automakers are hurting. Increasing prices twice within a year when people are cutting back likely isn't going to help matters much, but at least just about