)
German luxury car maker Audi today announced price hike of 2.5% across its range of sports utility vehicles to factor in the increase in excise duty announced in the Budget.
The company has also increased prices of Audi R8 and Audi RS5 by 15% to off-set the hike in customs duty on imported models. The price hikes are effective from 16 March, 2013.
“According to the 2013-14 Union Budget there has been an upward revision in customs duty and excise duty, based on conditional clause on select models. Due to this development we are forced to make a correction in our prices. We understand the overall market scenario is challenging, however, we are offering the customers customized and innovative finance options from Audi Finance which will make their purchase more attractive.” said Michael Perschke, Head, Audi India.
Earlier this week Mercedes Benz also announced price hikes of up to Rs 58 lakh on select models due to the upward revision of levies payable on the products. While the company had increased prices of locally assembled products by 1-4%, Mercedes hike prices on imported models by up to 20%.
