Leading German car manufacturer in India, Volkswagen India LTD. announced a price hike of up to 3 per cent on its entire product range with effect from January 2019. The decision to appreciation is made considering the current market situation and Indian economic conditions like rising input cost, depreciating Indian Rupee, rising operational costs etc.
Announcing this price rise, Mr Steffen Knapp, Director, Volkswagen Passenger Cars says, “Over the last few months, we have been facing several fluctuations within the economy particularly the rise in input costs. 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.”