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Volkswagen to hike car prices in India by up to 3% from Jan 1

Press Trust of India  |  Mumbai 

German auto major Friday announced up to 3 per cent increase in prices of its vehicles across models in from January 1, 2019.

The upward price revision is due to increased input cost and fall in rupee, the company said in a statement.

Steffen Knapp, director, Passenger Cars, said following the 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.

"A diminutive percentage increase will assist the company in restoring equilibrium for the upcoming months," he said.

Volkwagen is carrying out an upward revision of up to 3 per cent in the prices of its product range with effect from January 2019, the release said.

Knapp said that a part of the increase has been absorbed by the company.

Other major automakers like Maruti Suzuki, Toyota Kirloskar Motor and have already announced hike in their vehicle prices from January.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, December 07 2018. 15:30 IST