The Indian arm of Audi, a subsidiary of Volkswagen Group and globally acclaimed German automotive marque, has declared to increase the prices of its entire product portfolio by up to 5 per cent in the country. The company has also affirmed that price hike will be put into effect from January 1, 2013 and is aimed at covering up for losses from the ever increasing input costs and devaluation of INR.
Highlighting the company's latest move, in a statement Audi India said, “Audi today announced an increase in price of its model range available in India. The increase would range up to 5 per cent across model from January 1, 2013.” At present, the German auto maker has a diverse Indian line-up of luxury saloons, Utility Vehicles (UV) and ultra-modish sports cars. The Audi A4, A6 and A8 are sports cum luxury sedans, while Q3 is a compact Sports Utility (SUV), Q5 and Q7 are Sports Activity Vehicles (SAV). The company's entire range starts from close to Rs. 28 lacs in the country and goes on till Rs. 1.8 crore, at which the much fawned upon Audi R8 super sports car is retailed.
Expressing his opinion on the upcoming hike, Michael Perschke, Head, Indian arm of Audi, said, “The overall market scenario is challenging. The rise in input cost, depreciating rupee as well as continuous increase in fuel prices have made us re-evaluate our pricing strategy in India and increase the prices of the entire range. In spite of the challenges, Audi is the growth driver of the luxury market in India. Keeping our performance in mind, we are confident of surpassing the 2012 sales target of 8,000 units even before the year comes to an end."
In a bid to not deter domestic buyers from entering its stores, Audi India has confirmed that it will continue to offer its Indian clientele with motor vehicle loans from its subdivision - Audi Finance. However, the company has not shelled out any details concerning the exact amount of price increase in the retail values of its individual models marketed in the country. Reportedly, Audi India's domestic sales climbed up by 76.35 per cent at 850 units during October 2012, as against 482 units sold in the corresponding month last year.
