Luxury car maker Audi India today said it will raise prices of its entire range of vehicles by up to five% with effect from January next year due to rising input costs and falling rupee.
"Audi today announced an increase in price of its model range available in India. The increase would range up to 5% across model from January 1, 2013," the company said in a statement.
The company 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 priced between Rs 27.85 lakh and Rs 1.7 crore (ex-showroom, Delhi).
Audi India, however, did not specify details on what will be the exact amount of hike for each model.
Commenting on the hike, Audi India Head Michael Perschke said: "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 the entire range."
The company, however, will continue to offer the customers finance options from Audi Finance, he added.
"In spite of the challenges, Audi is the growth driver of the luxury market in India. Keeping our performance in mind, we are confident of surpassing the 2012 sales target of 8,000 units even before the year comes to an end," Perschke said.
The company's sales in October soared by 76.35% to 850 units from 482 units in the same month last year.