Automobile manufacturer Volkswagen India will raise prices of Polo and Vento models by up to 2.5 per cent from January 2021.
According to the company, the move will be initiated in lieu of the rising input costs. “Effective January 2021, Volkswagen India announces a price revision of up to 2.5 per cent across the Polo and Vento models in lieu to the rising input costs," said a spokesperson for Volkswagen Passenger Cars India.
Recently, other automobile brands also announced their plans to raise vehicle prices. A few days back, luxury automobile manufacturer BMW Group India said it will raise vehicle prices by up to 2 per cent for all BMW and MINI models.
The BMW Group India will introduce the revised 2021 pricing for all BMW and MINI models effective January 4, 2021
Recetly Firth Ratings found out that Indian automakers’ plans to pass on higher commodity prices to customers will dim the prospects for a demand recovery after December 2020, when the boost in some categories from pent-up demand and festive spending fades, and the economic impact from the coronavirus pandemic reasserts itself.
Accordingly, the ratings agency said pent-up demand after the gradual easing in the government’s lockdown measures helped India’s monthly wholesale volume of passenger vehicles (PV) return to growth after July 2020.