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Volkswagen India to hike prices by up to 3% from January over input costs

The company currently sells a range of vehicles starting from hatchback Polo to premium sedan Passat with prices ranging from Rs 555,000 to Rs 3.29 million

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Volkswagen India  |  Volkswagen India Sales  |  Transport

Press Trust of India  |  New Delhi 

Volkswagen

German auto major Friday said it will increase prices of its products in by up to 3 per cent from January 2019 citing rising input costs.

Following dynamic changes within the economy and rising input costs followed by a depreciating rupee, there has been a foreseen requirement to increase prices in the passenger vehicle segment, said in a statement.

The company currently sells a range of vehicles starting from hatchback Polo to premium sedan Passat with prices ranging from Rs 555,000 to Rs 3.29 million.

Commenting on the imminent price hike, Passenger Director Steffen Knapp said, "Over the last few months, we have been facing several fluctuations within the economy, particularly the rise in input costs."

The company has tried to absorb the increasing costs, but in order to maintain quality standards this is an essential move, he added.

Other companies, including Toyota Kirloskar, and Isuzu, have also stated they would increase prices of their vehicles from January to offset increase in input costs.

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First Published: Fri, December 07 2018. 15:15 IST
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