Volkswagen Passenger Cars India announced its plans to increase car prices across its model line-up from January 2023. The carmaker cites new regulatory changes and the increase in commodity prices as the causes of the price hike.
Volkswagen claims to be absorbing a major amount of rising input costs, and therefore, it has decided to increase the prices of its models, which will partially offset the impact of rising input costs. The firm will disclose the magnitude of the hike next month. The price hike will come into force across the entire Volkswagen model range. The company currently has 157 sales touchpoints in 117 cities in India.
The Virtus compact sedan, the Taigun small SUV, and the Tiguan mid-size SUV are the three models that Volkswagen currently offers. While the first two models are manufactured in India, the Volkswagen Tiguan is imported as a CKD (completely knocked down) vehicle and is only assembled in India. The Virtus is priced between ₹11.32 lakh and ₹18.42 lakh, while the Taigun is priced between ₹11.56 lakh and ₹18.96 lakh. In comparison, the Volkswagen Tiguan costs ₹33.50 lakh. All figures mentioned above are ex-showroom.
Volkswagen is not the only car manufacturer to announce a price increase. Various automakers, including Maruti Suzuki India, Audi India, Volvo Cars India, Jeep India, Mercedes-Benz India, Tata Motors, and Hyundai India have announced an increase in the prices of their offering beginning, starting January 2023. Moreover, the price hike does not apply only to four-wheelers. The country's top two-wheeler manufacturer, TVS Motocorp, has also declared a price increase for its products from next month onwards.