Lexus India, the subsidiary of Japanese luxury carmaker Lexus has announced a portfolio-wide price hike in the country by up to 3.2 percent.
The company stated that factors such as surging manufacturing costs and currency fluctuations have led to the hike in prices of its hybrid models including the 500h, LS 500h, NX 350h and ES 300h.
The company has joined a host of other OEMs that had earlier announced a hike in the prices of their vehicles.
Naveen Soni, President, Lexus India said, “We will continue to provide value to our guests through the amazing Lexus experiences during the guest’s ownership period and with our dedication to crafting a better tomorrow. This price hike is affected due to rising input costs & forex fluctuations. While Lexus India will continue to provide unmatched experiences through the Lexus life program, it has kept the price hike impact as minimal as possible for its discerning guests.”
At present, the carmaker offers a wide range of hybrid electric vehicles that include the LC 500h, LS 500h, NX 350h, ES 300h and the all-new RX that will be unveiled at the Auto Expo 2023, for the Indian market.
Majority of OEMs, including Maruti Suzuki, Hyundai, and Tata Motors recently announced that their vehicles will get costlier from January 2023.
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