Luxury automaker Audi announced on Wednesday that starting January 1, 2023, it will increase prices for its entire model line by up to 1.7 percent. The business claimed that the price hike was a result of rising input and operating costs. Citing similar reasons, Audi increased the price of its vehicles in September 2022. It should be noted that the auto industry has been grappling with the same problem for a long time and it will continue to be a problem in 2023 as well.
Balbir Singh Dhillon, head of Audi India, said in a statement, “The primary objective of the company’s business strategy is to focus on a model that drives profitability and sustainability. Value as a result of rising supply-chain-related inputs and operating costs improvement is affected. Statement. “The new pricing of our models is directed towards maintaining the premium value position of our brand, ensuring sustainable growth for Audi India,” he added.
He added that the new price range for the company’s models is directed towards maintaining the premium value position of the brand, ensuring sustainable growth for both the automaker and its dealer partners.
Audi India’s current line-up includes the petrol-powered A4, A6, A8 L, Q3, Q5, Q7, Q8, S5 Sportback, RS 5 Sportback and the RSQ8. The electric vehicle portfolio under the e-tron brand includes the e-tron 50, e-tron 55, e-tron Sportback 55, e-tron GT and the RS e-tron GT.
Mainstream passenger vehicle brands Maruti Suzuki India and Tata Motors have also announced plans to increase prices from next month. Automakers cited similar reasons for the price hike. Significantly, the two-wheeler industry is also following this trend and increasing the price of the vehicles. Recently, India’s largest two-wheeler maker Hero MotoCorp also announced a price hike for its vehicles.
With inputs from PTI