(Yicai Global) Feb. 1 -- German auto giant BMW intends to raise the prices of certain models in China this month due to rising costs.

BMW is hiking the prices of 17 models in China today and the highest increase is CNY20,000 (USD2,964), Shanghai Securities News reported today. For example, the 5 Series will cost as much as CNY10,600 more, the X3 up to CNY7,100 more, and the X5 could get CNY17,000 more expensive.

Sources at BMW China said the price adjustment is prompted by global inflation which has led to rising raw material and logistics costs, as well as supply shortages.

Last year, BMW's sales in China fell 6 percent to around 791,990 units from a year ago because of a marketwide slowdown but sales of the German firm's segment of pure-electric vehicles almost doubled to 41,890 units, according to official data.

American sport-utility brand Jeep is also reported to hike the price of the Jeep Wrangler Rubicon by CNY10,000 because of rising costs. But it was denied by Chrysler, the owner of the brand, saying that Jeep's website showed wrong prices due to system exception.

Tesla has been swimming against the stream as the American electric vehicle giant has continued cutting prices in China this year. The starting price of its entry-level vehicle Model 3 has dropped to a record low of CNY229,900 from CNY265,900.

Editor: Emmi Laine, Xiaomi