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Volkswagen India to hike vehicle prices by up to 3% from January

Business 7-12-2018 MUMBAI 99

Volkswagen India to hike vehicle prices by up to 3% from January

Mumbai: Volkswagen India on Friday announced an upward revision of up to 3 percent in the prices of its product range with effect from January 2019.

“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 company statement said.

“Over the last few months, we have been facing several fluctuations within the economy particularly the rise in input costs,” Steffen Knapp, Director, Volkswagen Passenger Cars said.

“At Volkswagen, we have tried our best to absorb the increasing costs but in order to maintain quality standards that a Volkswagen customer expects, this is an essential move.

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

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