Germany’s carmaker Volkswagen is the latest automaker to announce the increase in prices of their cars. With this announcement, Volkswagen India has joined many other automobile makers who have announced a price hike from 2021. Volkswagen India has said that it has hiked the price of its hatchback Polo and medium-sized sedan Vento from next month in India.
The price will increase by 5 percent. Volkswagen Passenger Cars India said in a statement that Volkswagen India has decided to increase prices by increasing the cost of all essential goods and services.
According to the various car companies, the price of all the types of raw materials used in construction has increased in 2020 due to the pandemic. This includes steel, aluminum, and plastics. Various companies have decided to increase the price of vehicles to mitigate the impact of the rise in raw material prices.
These companies have also announced the price hike
Many companies before Volkswagen including Maruti Suzuki India, Nissan, Renault India, Honda, Mahindra and Mahindra, Ford India, Isuzu, BMW India, Audi India, have also announced their raised prices. Nissan has announced the highest price hike of up to 5 percent from all of these companies so far. The Two-wheeler giant Hero MotoCorp along with Kawasaki India has also announced to increase the price of vehicles from January 2021.