European car manufacturer Skoda on Tuesday announced its plan to hike prices of its automobile by up to 2.5 per cent from January 1, 2021.
The automaker said that the increased production cost is the reason behind this decision.
“There has been a surge in the cost of our inputs for production due to significant volatility in the global commodity prices and foreign exchange rates in recent times.
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“Skoda Auto India has been absorbing these incremental costs, all this while, but is now considering a price increase of up to 2.5 per cent with effect from January 1, across its model range,” Skoda Auto India spokesperson said in a statement.
Some of the automakers in the country have already announced price hikes for their vehicle models from January 1, 2021 on account of rising input and material costs besides fluctuations in exchange rates.
This includes Indian branches of Volkswagen and BMW Group that recently announced that they will hike prices of range of cars from January.
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