Skoda to increase vehicle prices by up to 2 pc from January

Skoda Auto India Monday said it will increase prices of all its models by up to 2 per cent from January 1, 2019.

The company considered a price hike after reviewing its input and freight costs on both domestic and import fronts, it said.

"There has been a surge in the cost of our inputs for production due to significant volatility in the global commodity prices and foreign exchange rates in recent times," Skoda Auto India Director - Sales, Service, and Marketing Zac Hollis said.

It has been absorbing these incremental costs all this while but is now considering a price hike of up to 2 per cent with effect from next month across its model range, he added.

At present, Skoda sells a range of vehicles starting from mid-sized sedan Rapid to the premium SUV Kodiaq, priced between Rs 7.99-35.99 lakh.

Last week, Maruti Suzuki India and utility vehicle maker Isuzu Motors announced price hike with effect from January to offset increasing input and distribution costs.

In November, Toyota Kirloskar Motor announced that it would increase prices of vehicles across models by up to 4 per cent from January 1 to offset increasing manufacturing costs due to rupee depreciation.