Audi India to hike prices by 2% starting June 2024 amid rising input costs

Mumbai — Audi, the renowned German luxury car manufacturer, has announced a price increase of up to 2 per cent across its model range in India, effective from June 1, 2024. This decision comes in response to the rising input and transportation costs faced by the company.

Explaining the rationale behind the price adjustment, Balbir Singh Dhillon, head of Audi India, stated, “Rising input costs are compelling us to increase prices by up to 2 per cent effective June 1, 2024. The price correction aims to ensure sustainable growth for Audi India and our dealer partners. As always, it’s our endeavour that the impact of rising costs is as minimal as possible for our customers.”

In recent times, Tata Motors, India’s largest commercial vehicle manufacturer, also announced a price increase of up to 2 per cent for its commercial vehicles, effective April 1, 2024. Earlier this year, automobile manufacturer Maruti Suzuki also implemented a price hike of around 0.45 per cent across its models from January 16, 2024. It was also reported that Mercedes-Benz India is contemplating another price adjustment due to persistent high input costs and global supply chain issues, following a 2 per cent price increase on select models effective January 1, 2024.

The recent financial year witnessed Audi India retail 7,027 units, marking an overall growth of 33 per cent. Meanwhile, Audi's pre-owned car business, Audi Approved: plus, experienced a surge of 50 per cent during the same period.

Audi India’s product portfolio includes models such as the Audi A4, A6, A8 L, Q3, Q3 Sportback, Q5, Q7, Q8, S5 Sportback, RS5 Sportback, RS Q8, Q8 50 e-tron, and RS e-tron GT.

The Audi Group encompasses brands like Audi, Bentley, Lamborghini, and Ducati, operating across 21 locations in 12 countries. In the financial year 2023, the Audi Group delivered 1.9 million Audi vehicles, 13,560 Bentley vehicles, 10,112 Lamborghini vehicles, and 58,224 Ducati motorcycles to customers worldwide. The group recorded a total revenue of €69.9 billion and an operating profit of €6.3 billion in the same financial year.