Volkswagen to hike prices by up to Rs 20k from Jan to offset input costs

German auto major Volkswagen today said it will increase prices of its vehicles in India by up to Rs 20,000 from January in order to offset the impact of rising input costs.

The increase will be depending on the model across the Volkswagen product range in India, the company said in a statement.

"The price increase is essential on account of several external economic factors as well as fluctuations in the global commodity price and local input cost and is in line with industry," Volkswagen Passenger Cars Director Steffen Knapp said.

Yesterday, Maruti Suzuki India said it will raise prices of its entire range by up to 2 per cent from next month.

Various other automakers such as Tata Motors, Ford, Toyota Kirloskar Motor, Honda Cars India, Skoda and Isuzu have also announced their decision to hike prices from early next year.