Volkswagen India, Skoda set to hike prices by up to 2% from January

Volkswagen Passenger Cars India on Tuesday said it plans to hike prices by up to 2 per cent across model range to offset adverse impact of rising input and material costs from January 1, 2024.

Already other manufacturers such as Maruti Suzuki, Hyundai Motor India, Tata Motors, Mahindra & Mahindra, Honda, Audi and BMW, have announced plans to increase prices of their vehicles in January.

Effective January 1, 2024, the company plans to hike prices by up to 2 per cent across its model range owing to rising input and material costs, a spokesperson of Volkswagen Passenger Cars India said in a statement.

"While the brand continues to absorb most of the input cost increase, however, some impact will have to be passed on to the end consumers," it added.

Volkswagen Passenger Cars India sells vehicles ranging from mid-sized sedan Virtus to premium SUV Tiguan priced between Rs 11.48 lakh and Rs 35.17 lakh.

Skoda joins the queue

Skoda Auto India on Tuesday said it will hike the prices of its vehicles by around 2 per cent across its range from January 1 next year.

The price increase is owing to rising supply, input and operational costs, the company said in a statement.

The hike will be effective on the entire range of Skoda Auto India vehicles -- SUV Kushaq SUV, sedan Slavia sedan and premium SUV Kodiaq, it added.

These vehicles are priced between Rs 10.89 lakh and Rs 39.99 lakh.

Earlier in the day, Volkswagen Passenger Cars India also said it plans to hike prices by up to 2 per cent across the model range to offset the adverse impact of rising input and material costs from January 1, 2024.

Already, other manufacturers like Maruti Suzuki, Hyundai Motor India, Tata Motors, Mahindra & Mahindra, Honda, Audi and BMW have announced plans to increase the prices of their vehicles in January.