VW follows rivals, hikes prices of vehiclesDevdiscourse News Desk | Mumbai | Updated: 07-12-2018 15:47 IST | Created: 07-12-2018 15:26 IST
The upward price revision is due to increased input cost and fall in rupee, the company said in a statement. Steffen Knapp, director, Volkswagen 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.
Knapp said that a part of the increase has been absorbed by the company. Other major automakers like Maruti Suzuki, Toyota Kirloskar Motor and Isuzu Motors India have already announced hike in their vehicle prices from January.