All of Volkswagen Passenger Cars India's models, including the Virtus, Taigun, and Tiguan, will see price increases of up to 2% beginning on October 1. The decision was made by the corporation as a result of growing input expenses.
While the pricing range for the Virtus mid-size sedan is between Rs. 11.22 lakh and Rs. 17.92 lakh (ex-showroom), that of the Taigun mid-size SUV is between Rs. 11.40 lakh and Rs. 18.60 lakh (ex-showroom), and that of the Tiguan luxury SUV, which has a single model, is Rs. 32.79 lakh (ex-showroom).
Due to growing input costs, Volkswagen Passenger Cars India will increase prices by up to 2 percent starting on October 1, 2022, according to a company representative.
Although automakers typically raise vehicle pricing twice a year, rising input costs have compelled them to raise prices even more.
Commodity prices have skyrocketed in recent years as a result of factors including the Covid outbreak and geopolitical concerns. Industry experts claim that despite several price increases by automakers, not all of the cost has been passed on to consumers. Steel, plastic, and other raw materials make up nearly 75% to 77 % of the total cost of producing a passenger vehicle.
In its home market, Volkswagen intends to sell close to 60,000 vehicles in 2022. In 2021, the company has had wholesale sales of about 26,000 units.
The two models introduced as part of Volkswagen Group's India 2.0 project, Virtus and Taigun, are the company's volume producers. Skoda has launched the Slavia mid-size sedan and Kushaq mid-size SUV in India as part of the same project, which has received a 1 billion euro investment.