Lexus India, a subsidiary of the Japanese luxury carmaker, has announced a price hike of up to 3.2 per cent across its portfolio in the country. The company said that factors such as rising manufacturing costs and currency fluctuations had increased the prices of its hybrid models, which include the 500h, LS 500h, NX 350h and ES 300h.
Naveen Soni, President of Lexus India, said, “We will continue to provide value to our guests through amazing Lexus experiences throughout their ownership tenure and with our dedication to building a better tomorrow. This price increase has been impacted due to currency fluctuations, while Lexus India will continue to offer great experiences through the Lexus Life programme.
Currently, the carmaker offers a wide range of hybrid electric vehicles, which include the LC 500h, LS 500h, NX 350h, ES 300h and the all-new RX, which will be introduced at the Auto Expo 2023 for the Indian market.
Most OEMs, including Maruti Suzuki, Hyundai and Tata Motors, recently announced that their vehicles would become costlier from January 2023.