"As we have stated earlier, 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 our entire model range," Audi India head, Michael Perschke, said in a statement.
Last month, Audi India had said it would raise prices of its entire range by up to five per cent from next year but did not specify details on what would be the amount of hike for each model. Elaborating the announcement on Thursday, the company said: "The price increase would range between Rs 59,000 to Rs 3,69,000 (ex-showroom, Delhi) across the model range from January 1."
Audi sells various models in India such as sedans A4, A6 and A8, sports utility vehicles Q3, Q5 and Q7 and sports car R8, which are currently priced between Rs 27.85 lakh and Rs 1.7 crore.
Budget-carrier SpiceJet today said it has raised Rs 126.5 crore through issue of securities to promoter Kalanithi Maran.