Audi announced it will increase prices for its vehicles by up to 3% to protect the company’s margins in India.
“We will increase prices by 2-3 per cent. We have no option but to pass on some costs to customers. The price hike may take place between July and August, ” Audi India head Michael Perschke told reporters.
Audi has recently launched the RS 5 Coupe in India, priced Rs 95.28 lakh. The German automaker said that the rupee’s sharp fall in the past weeks has significantly affected the automaker’s margins. Audi has previously increased priced at the beginning of the year after the government has raised the excise duty on SUVs longer than 4-meters from 27% to 30% in the budget. This means that SUVs longer than 4 meters and with an engine of at least 1500cc and 170mm ground clearance, will have an excise of 30% from 27%.
“We are confident of maintaining the sales momentum and meeting our target of selling 10,800 cars this year. So far this year, we have launched six models including the RS 5 Coupe and we aim to roll out another 3-4 new models and variants in the remaining part of the year,” said Michael Perschke.