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Effective from January 2017, popular carmakers in the country like Hyundai, Tata Motors, Toyota, Nissan, Datsun, and Renault will be increasing car prices depending on the model and its variants. The German automaker Volkswagen which has been a decent performer in the Indian market has decided to hike its model prices by about 3 per cent depending on the variant from January 1, 2017.
The automakers in the country have cited rising input cost and operating expenses, along with fluctuating exchange rates as the reason behind the price hike. Among the leading automakers, Hyundai Motor has hiked the prices by up to Rs 1.0 lakh, while Nissan and Tata will hike the price by about Rs 30,000 and up to Rs 25,000, respectively. The Japanese automaker Toyota will be hiking prices by about 3 per cent next year. Volkswagen price hike will cover the entire range including the recently launched Ameo compact sedan and the performance oriented Polo GTi.
The year 2016 has been successful for the German automaker even though the company had been entangled in diesel engine controversy. This year, the automaker has entered the competitive compact sedan space with the Ameo and the thrilling performer Polo GTi. Additionally, Volkswagen is also offering dual airbags and ABS with EBD as standard safety feature across all its models which are sold in the country. The automaker also plans on introducing the new generation Passat and Tiguan in the country sometime in 2017.
source”cnbc”