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Thread: Audi hikes prices by up to 14%
03-22-2012, 10:51 AM #1
Audi hikes prices by up to 14%
Luxury car maker Audi has raised prices of its entire range of products in India by up to 14 per cent due to hike in excise and customs duties in the Budget.
"While the Fully Built Units (FBU) have seen an increase of 13 to 14 per cent, the Audi models which are locally produced in India have increased by 3.4-3.7 per cent," Audi India said in a statement on Wednesday.
While the company has not given a complete break-up of the price hike across all the models that it sells in India, it said the A7 Sportback price will start at Rs 66.04 lakh and that of the RS5 at Rs 85.95 lakh (Ex-showroom, Delhi).
Besides, models like A4 is now priced at Rs 30.6 lakh, it added.
Last week, another premium car maker Mercedes-Benz had announced to hike the prices of its entire range of vehicles by an average of about Rs 3 lakh following the duty increases.
Finance Minister Pranab Mukherjee had proposed to hike the excise duty to 12 per cent from 10 per cent earlier.
In the Budget, excise duty on cars have been also increased. Petrol cars with engines under 1,200 cc and diesel cars with engine capacity under 1,500 cc, but the length exceeding four metres to 24 per cent from 22 per cent and a fixed duty of Rs 15,000.
Petrol and diesel driven vehicles having length exceeding four metres and engine capacity of over 1,200 cc and 1,500 cc respectively will now be charged with an ad valorem duty of 27 per cent, instead of the earlier 22 per cent and a fixed duty of Rs 15,000.
Mukherjee also announced hiking the basic customs duty on imported vehicles valued over $40,000 and with engine capacity of over 3,000 cc and 2,500 cc for petrol and diesel driven vehicles respectively to 75 per cent from 60 per cent.