Luxury automobile manufacturer BMW India said it will increase prices by up to 3.5 per cent across its model range effective from April 1. The price increase will be brought into effect to adjust the material and logistics costs, the impact of the current geopolitical situation and exchange rates.
Earlier, another luxury carmaker, Mercedes-Benz India had announced an upward revision in the price of its entire model range effective from April 1.
According to Mercedes-Benz India, the imminent price correction would be in the range of 3 per cent across the entire model range. It said that the constant increase in input prices in addition to an increase in logistics rates has been exerting significant pressure on the overall costs of the company.
The same reason has forced multiple manufacturers to increase the cost of vehicles as well. Audi, the German luxury car manufacturer, has announced a price hike of up to 3% across its model range in India. As per Audi, the price hike is a result of rising input costs and will come into effect from April 01, 2022.
Balbir Singh Dhillon, Head of Audi India, said, “At Audi India, we are committed to operating a sustainable business model. With rising input costs and changing Forex rates, we are required to take a price hike of up to 3% across our model range."
Audi India’s current line-up includes the petrol-powered Audi A4, Audi A6, Audi A8 L, Audi Q2, Audi Q5, the recently launched Audi Q7, Audi Q8, Audi S5 Sportback, Audi RS 5 Sportback, Audi RS 7 Sportback and the terrific Audi RS Q8.
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Tata Motors has announced an impending price hike of its commercial vehicle range. An increase in price in the range of 2-2.5%, will come into effect from 1st April 2022 across the range, depending upon individual model and variant.
The increase in the prices of commodities such as steel, aluminium and other precious metals, in addition to higher costs of other raw materials, has incited this price hike of commercial vehicles. While the company has initiated actions to absorb a significant portion of the increased costs, at various levels of manufacturing, the steep rise in overall input costs makes it imperative to pass on some residual proportion via a minimized price hike.
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