Volkswagen Passenger Cars India has announced plans to increase car prices by up to 2% across its model range, citing the impact of rising input and material costs. A spokesperson for Volkswagen mentioned that while the brand is absorbing most of the cost increase, some of it will be passed on to consumers. This decision follows similar moves by Maruti Suzuki and Mahindra & Mahindra, both of which recently announced plans to hike vehicle prices due to increased costs. Mahindra & Mahindra, on December 6, stated that it would increase the prices of its passenger and commercial vehicles, while Maruti Suzuki announced on November 27 that it would raise car prices from January 2024.
Key Points:
1. Volkswagen Passenger Cars India intends to raise car prices by up to 2%, citing escalating input and material costs as the primary reason for the adjustment.
2. Despite efforts by the brand to absorb a significant portion of the increased input costs, a necessity to pass on some impact to end consumers has been acknowledged by a Volkswagen spokesperson.
3. This decision by Volkswagen follows similar moves by other automotive giants, including Maruti Suzuki and Mahindra & Mahindra, who have also announced plans to increase vehicle prices due to rising costs.
4. Mahindra & Mahindra, on December 6, revealed its decision to raise prices for both passenger and commercial vehicles starting the next month, attributing the increase to higher costs.
5. Maruti Suzuki had earlier announced on November 27 that it would implement price hikes for its cars starting January 2024, emphasizing the need for the adjustment due to increased input costs, despite the company's efforts to mitigate the impact.
(With Agency Inputs)
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