Volkswagen India has announced that it will increase the prices of all its products by up to 3 per cent with effect from January 2019. The company is not the first to announce a price hike as manufacturers like Maruti Suzuki, BMW , Hyundai, Mahindra among others have already declared that their cars will be costlier from January 2019. Volkswagen India has attributed the hike in the cost of its products to 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.
Steffen Knapp, Director, Volkswagen Passenger Cars said, "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."