Luxury car maker BMW Group India on Monday announced an increase in prices of its products across models, including the Mini product range, by up to 5 per cent from August 15.

'We are making price decisions with all due care and consideration ensuring that they pay off in the long run,' BMW Group India President Philipp von Sahr said.

While a few auto makers have increased prices in the recent months, many are considering doing so mainly to offset the impact of the decline in the rupee’s value.

'To help customers drive away in their dream BMW or MINI before 15 August 2013, BMW Financial Services will offer a range of convenient and customised financing solutions,' the company said.

BMW sells a range of vehicles in India, including sedans 3, 5, 6 and 7 Series, along with SUVs X1, X3, X5 and sports car M Series, which are priced between Rs 28.6 lakh and Rs 1.73 crore. The company's luxury compact car, the Mini series, is currently available between Rs 26.6 lakh and Rs 37.50 lakh.