Following increase in excise and import duties in the Union Budget 2012-13, two carmakers — Honda and Audi — on Wednesday announced hike in the prices of their products across models. While Honda cars will see its prices go up by Rs.4,000-94,000, Audi has hiked prices of its imported cars by 13-14 per cent and those locally produced by 3.4-3.7 per cent.
Stating that the new prices would be effective from March 17, Honda Siel Cars India said the new prices of its entry level compact car Brio would be hiked between Rs.4,000 and Rs.10,000, while the prices of premium compact car Jazz would go up by Rs.14,972-15,000. Similarly, sedan City would become dearer by Rs.5,000-10,500, while Civic sedan prices would go up by Rs.36,600-45,800. Japan carmaker's luxury sedan Accord would now be costlier by Rs.67,500-93,975 depending on the variant.
“Further to the increase in excise duty and customs duty on large cars in this year's Union Budget, we have re-evaluated our pricing strategy in India and have increased the prices of all products.
However, we are still confident of achieving our sales target of 7,500-8,000 cars at the end of 2012,” said Audi India Head Michael Perschke.
For fully-built unit (FBU) models such as Audi A7 Sportback, Audi A8 L and Audi RS5, customs duty has increased from 60 per cent to 75 per cent.
As a result, prices for these models have increased in the range of 13-14 per cent.
The Audi A7 Sportback is priced at Rs.66-lakh onwards, while Audi RS5 now begins at Rs.85.95-lakh. Similarly, in view of the excise duty increase from 22 per cent to 27 per cent, models such as Audi A4, Audi A6 and Audi Q5 have incurred a price increase in the range of 3.4-3.7 per cent. The Audi A4 is now priced at Rs.30.60-lakh.