VW In­dia to hike prices by up to 3% from Jan­uary

Hindustan Times (Ranchi) - - Business -

NEW DELHI: Ger­man auto ma­jor Volk­swa­gen on Fri­day said it will in­crease prices of its prod­ucts in In­dia by up to 3% from Jan­uary 2019 cit­ing ris­ing in­put costs. Fol­low­ing 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, Volk­swa­gen In­dia said in a state­ment. The com­pany cur­rently sells a range of ve­hi­cles start­ing from hatch­back Polo to pre­mium sedan Pas­sat with prices rang­ing from ₹5.55 lakh to ₹32.99 lakh. Com­ment­ing on the im­mi­nent price hike, Volk­swa­gen Pas­sen­ger Cars direc­tor St­ef­fen Knapp said, “Over the last few months, we have been fac­ing sev­eral fluc­tu­a­tions within the econ­omy, par­tic­u­larly the rise in in­put costs.”

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