Today BMW of North America LLC announced a 2.1 percent price increase across its entire 2009 model line in the United States, the second such sticker hike since a 1 percent boost on the 2008s in June.

Jim O'Donnell, BMW president of North America said in a company statement, "The significant structural and economic changes in the marketplace are prompting all automakers to further refine actions to respond to these pressures."

He added, "At BMW, we're responding with a number of internal efficiency improvements to offset our increased costs so that we can keep this price increase modest."

Higher prices for raw materials, including steel, as well as the weakened condition of the U.S. dollar have raised assembly prices for automakers like BMW who build their cars in Europe and import them to the U.S.

For the first seven months of 2008 sales of BMWs in this country fell 8 percent, to just 155,427 units leading the company to make cost cuts and to lower its projected yearly profit by 40 percent from 2007.

BMW is not, however, retreating from the American market, and plans to spend approximately $1 billion on its operations here including an investment of $750 million for improvements at its single U.S. facility in Spartanburg, S.C. where BMW Z4 coupes and roadsters and X3 and X5 crossovers are made.