Audi and Maruti announces price hike
Mumbai. Car companies Audi and Maruti annonced a price hike from january 2024 The German luxury car manufacturer, announced a price increase of up to 2%. across its model range owing to rising input and operational costs. The price hike will be effective from January 01, 2024. Mr. Balbir Singh Dhillon, Head of Audi India said, “Achieving profitability through a sustainable business model remains a critical part of Audi India’s strategy, and we are committed to providing the best to our customers. 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. 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 recently announced 88% growth and has retailed 5,530 units in the first nine months of this year. The brand currently has the widest EV portfolio in the segment. Audi Approved: plus (the pre-owned car business) witnessed a growth of 63% in the period January to September 2023. Audi India has also announced an industry-first initiative for EV owners - ‘Charge my Audi’ on the ‘myAudiConnect’ app. It is a one-stop solution that gives Audi e-tron customers access to multiple electric vehicles charging partners on one app.
Maruti Suzuki India on Monday said it plans to increase prices of its vehicles in January 2024, citing cost pressures due to overall inflation and increased commodity rates. The company sells a range of vehicles from the low-cost small car Alto to the multi-utility vehicle Invicto. Their price ranges between Rs 3.54 lakh to Rs 28.42 lakh (ex-showroom Delhi). However, the company has not given any information as to how much the prices will be increased. "The company plans to increase the prices of its cars in January 2024 due to increased cost pressures due to overall inflation and increased commodity prices," Maruti Suzuki India said in a stock exchange filing.
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