German automaker Volkswagen has officially confirmed a hike in car prices across its entire lineup from January, 2018 onwards. The prices will be increased by up to Rs. 20, 000. Volkswagen has attributed this increase in prices to several reasons including fluctuations in global commodity prices and also due to increasing local input costs.
Several external financial developments have been behind this decision from the company and this is in line with the industry trends where most automakers have already hiked prices according to the Director, Volkswagen Passenger Cars India, Steffen Knapp. Other companies that have already hiked their prices include Toyota, Skoda, Tata Motors, Mahindra & Mahindra, Isuzu and others.
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Sales volumes went down by 4% for Volkswagen in the period between April and November, 2017 and stood at 31, 644 units. The company had notched up sales figures of 32, 877 units in the same period in 2016.