scorecardAudi India raises prices of select models up to 2.4% due to custom duty and input cost hike
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Audi India raises prices of select models up to 2.4% due to custom duty and input cost hike

Audi India raises prices of select models up to 2.4% due to custom duty and input cost hike
Business1 min read
Audi India has declared a price hike on certain models. This means that Audi fans in India have to pay more for their desired luxury car. The company says the price bump is due to the increase in customs duty and input costs. The Audi Q3 and Audi Q3 Sportback models will witness a price increase of up to 1.6 percent, while the Audi Q8 Celebration, Audi RS5, and Audi S5 will experience a price hike of up to 2.4 percent. The company has already increased the price of Q8 Celebration, RS5, and S5 by up to 2.4 percent with effect from April 1.

"At Audi India, we strive to give our customers the best, but the rise in customs duty and input costs have compelled us to amend our prices upwards," Audi India Head Balbir Singh Dhillon said in a statement.

While the company has tried to absorb the impact at various levels, the current situation necessitates a price increase, he added.

An increase in customs duty and input costs means that the car company must pay more to import or purchase the necessary materials, components, and parts required to manufacture the cars. As a result, the production cost of the cars increases, and the car company may have to pass on the additional expenses to customers by raising the prices of their products. This could affect the car company's sales and profitability and the demand for their cars in the market.

Also, Audi is one of many car makers to hike prices for its models. Mercedes-Benz India has already increased its vehicle prices ranging from ₹2 lakh to ₹12 lakh across different models from April 1, to offset rising input costs, especially the adverse impact of foreign exchange movements.

With inputs from PTI.

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