Audi has announced that all models of its cars selling in India will get a price hike of as much as 4 per cent starting from April this year. The price has been increased in order to compensate for the increase in basic imports duty on CBU and CKD imports by the Indian government and also the recently introduced Social Welfare Surcharge on such imports.
The Union Budget 2018 brought two major changes for the imports sector in India. A Social Welfare Surcharge, at the standard rate of 10 percent of aggregate customs duties, was introduced on imported goods, in addition to an increase of 5 per cent in the rate of customs duty on CBU and CKD imports. Both these changes resulted in an increase in the cost of operations for the foreign automobile companies selling in India. This, in turn, forced the companies like Audi India to hike the prices of its vehicles.
There will be a hike in price in the variation of Rs 1,00,000 to Rs 9,00,000, depending on the vehicle’s original price. The exact new prices have not been confirmed by the company. The German carmaker has also said that it will introduce various finance schemes to help its customers minimize the burden of the price hike.
The increase in imports duty has also affected many other leading foreign car companies selling in India. The list includes Volvo, Ford and Skoda. Many of these companies have already hiked the prices of their models while others are in the process of doing the same.
The current prices of popular Audi vehicles in India are listed below:
|A3||Rs 31.99 lakh to Rs 35.43 lakh|
|A3 Cabriolet||Rs 49.36 lakh|
|A4||Rs 39.97 lakh to Rs 45.45 lakh|
|A5||Rs 54.02 lakh|
|A6||Rs 53.84 lakh to Rs 54.84 lakh|
|A5 Cabriolet||Rs 67.51 lakh|
|S5||Rs 70.60 lakh|
|Q3||Rs 33.40 lakh to Rs 41.54 lakh|
|Q5||Rs 53.25 lakh to Rs 57.60 lakh|
|Q7||Rs 71.08 lakh to Rs 82.07 lakh|
|RS7||Rs 1.51 crore to Rs 1.64 crore|
|A8 L||Rs 1.17 crore to Rs 1.49 crore|
|TT||Rs 65.43 lakh|
|R8||Rs 2.62 crore|
Although the company has not confirmed the new prices, the hike is expected to be in the range of 3-4 per cent.