Audi plans to raise prices, brand perception
Filed under: Etc., Euro, Audi, Earnings/Financials
Audi is getting set to hike its prices up as it makes an attempt to move the brand more upscale and on par with other German luxury marques. In additon to an increase in status, the move should also make some more money for Audi, which has had profitability issues in the past, not the least of which can be attributed by a weak currency exchange.
Some of the ways Audi expects to change its brand perception is to utilize feature film product placement (a la I, Robot), make improvements in its dealer network and massage the Audi brand image overall. As it’s well know that these changes don’t take place overnight, Audi plans to make the transistion over the course of the next five years. The automaker has also hosted “lifestyle” events alongside niche luxury brands like Bang & Olufsen, Ducati and Abercrombie & Kent. The company is also planning on constructing several high-end showrooms, much like the Audi Forum that debuted in New York yesterday.
All these efforts will help Audi reach its goal of breaking the 100,000 unit mark in 2008.
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