New Delhi, April 25 (IANS): German luxury car manufacturer Audi on Thursday announced a price hike of up to two per cent across its model range in India owing to rising input and transportation costs.

The price hike will be effective from June 1.

"Rising inputs costs are compelling us to increase prices by up to two per cent effective June 1, 2024," Balbir Singh Dhillon, Head of Audi India, said in a statement.

"The price correction aims to ensure sustainable growth for Audi India and our Dealer partners. As always, it's our endeavour that the impact of rising costs is as minimal as possible for our customers," he added.

Last year, the luxury car manufacturer also announced a price increase of up to two per cent across its model range in the country. This hike was effective from January 1, 2024.

Audi India has retailed 7,027 units in FY 2023-24 posting an overall 33 per cent growth. It retailed 1,046 units in the first quarter (Q1) of 2024 encountering notable challenges with sales compared to the corresponding period last year, primarily due to supply chain disruptions.