Skoda Auto India today announced plans to hike prices of its entire model range by around 2-3 percent from 1st January, 2016.
The carmaker decided to go for the price increase, which will translate to around Rs 14,000 – Rs 50,000 per vehicle depending on model range, in order to balance out the increasing input cost and changing market conditions, according to an official statement.
The move follows the announcement by several other carmakers such as Nissan, Hyundai, Mercedes-Benz and BMW to hike prices starting next year.
Skoda Auto India has been in operation since November 2001 as a subsidiary of Czech carmaker Skoda Auto. The company, which has a network of 66 sales and 72 service outlets across the country, sells four models in India – Skoda Superb, Skoda Octavia, Skoda Yeti and the Skoda Rapid.
NISHANT PAREKH