Wednesday, March 12, 2014
By John Andrew
Audi India to hike the prices
Audi AG is keeping a close eye on the upcoming general elections in India and hopes for a stable government in the world's largest democracy where the German luxury carmaker aims to consolidate its leadership position. "As a successful luxury carmaker, we have witnessed some constant currency fluctuations (in India) that have affected our prices. A stable government along with some clear policy directions from the central bank would help us to offset the change in currency prices in the future and a constant growth from this important country," said Axel Strotbek, member of Audi board for management.
India is one of the fastest-growing and most profitable markets for Audi, which overtook BMW and Mercedes-Benz to become the top luxury car maker in India. The company plans to debut its new A3 sedan in next few months. The firm may also drive in its cabriolet version, Audi India head Joe King said. "We are planning to have different variants for the A3 sedan that would allow the Indian customers to get our globally hottest selling car at very competitive prices," King said on the sidelines of the annual press conference of Audi AG.
He said Audi is working out a price rationalization on its product line for the Indian market due to the constantly changing currency. A top executive said Audi is also considering several of its yet-to-debut products, such as the futuristic concept Q8 SUV, for the Indian market.
Source: Economic Times