Audi India, the Indian arm of the German luxury automobile manufacturer Audi has announced its decision to hike prices across its product portfolio in India by up to 5 percent. The motive behind the price hike which will be implemented from January 1, 2013 is claimed to be the rising input costs and the depreciation of the Indian rupee in foreign exchange.
The automaker issued a statement with the announcement of the price hike effective from January 2013. The Indian car portfolio of the car manufacturer ranges from Rs 27,85,000 to Rs 1.7 crore (ex-showroom, Delhi) including the A4, the A6 and the A8 sedans, the Q3, the Q5 and the Q7 sports utility vehicles and the R8 sports car in India.
Mr. Michael Perschke Head Audi India stated that the scenario in the Indian auto market is challenging and has resulted in lower sales of car models. The situation has further worsened due to the frequent hikes in fuel prices, he added. Mr. Perschke also stated that the company will continue to provide car finance through the Audi Finance arm.