Automakers Maruti Suzuki, Mahindra & Mahindra and Audi India on Monday announced plans to hike prices of their passenger vehicles in January 2024 citing reasons, including cost pressure driven by overall inflation and increased commodity rates.
Besides, Tata Motors and Mercedes-Benz India are mulling increasing the prices of their models from January.“There is an inflationary pressure all around, including volatility in commodities, so that is the reason we have decided to increase the prices in January,” he noted.
MSI had last hiked vehicle prices by 0.8 per cent in April this year. It had effected a total price increase of 2.4 per cent last fiscal.“There is no choice left for us now but to enhance the prices. We are yet to figure out the exact quantum of the increase,” Srivastava said.“
Due to rising supply chain-related input and operational costs, we have effected a price correction across our model range, maintaining the brand’s premium price positioning,” Audi India Head Balbir Singh Dhillon said in a statement.
Further, he said the price correction aims to ensure sustainable growth for Audi India and our dealer partners, and “we will ensure that the price hike’s impact is as minimal as possible for customers.”
Audi India sells a range of vehicles from Q3 SUV to sports car RSQ8 priced between Rs 42.77 lakh and Rs 2.22 crore.