German brands are the top luxury car makers worldwide, and it is no different in India. Another German car manufacturer that has a huge following in the country is Volkswagen. The brand is known not for its premium luxury or posh interiors but for its solid build quality, performance, driving dynamics, and most importantly, affordability. Known as the ‘People’s Car’, Volkswagen is known worldwide for bringing German quality to the masses.
However, ironically, Volkswagen has always charged a premium for its products over other rival brands in India. And now, to add salt to the wounds, the company has announced plans to increase prices across its model range.
The new, increased prices are set to come into effect from January 2023. The automaker blames rising commodity prices and increased regulations for the increased costs. VW claims it is absorbing rising input costs and wants to partially offset the blow. Therefore, it increases the price.
The price hike will be applicable across the entire Volkswagen model range in India which mainly includes three models. The brand currently retails its Tiguan mid-size SUV, Taigun compact SUV, and Virtus mid-size sedan in the country. Notably, the automaker recently launched a special edition Tiguan with minor cosmetic differences and no extra cost.
Volkswagen currently has a strong network of 157 sales touch points across 117 cities in India.
Other OEMs are announcing price hikes.
The German automaker is not the only major OEM to have hiked prices as other mass market auto manufacturers like Hyundai, Maruti Suzuki, Honda, Kia, Tata, Renault, MG, Jeep & Citroen along with luxury Automakers like BMW. Volvo, Audi and Mercedes-Benz have also announced price hikes in India. OEMs are citing the common reason for this move is the rise in commodity and raw material prices due to global inflation.
This series of price hikes in the country is not limited to four-wheeler manufacturers but also two-wheelers like TVS Motor and Hero MotoCorp.
Most of its offers have indicated a price hike. OEMs are citing the common reason for this move is the rise in commodity and raw material prices due to global inflation.