Volkswagen’s Virtus, Tiguan to become costlier from this date

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Your favourite cars are getting costlier and costlier. If you are thinking of bringing home your dream car, then, you should buy it now or you can even buy it during year end sale as companies are going to hike prices from January 1, 2024. There is now a bandwagon effect with more and more automotive companies following the trend. After the likes of Maruti Suzuki India, Tata Motors and other automobile manufacturers, Volkswagen too has announced fresh round of price hike next year. Like other automotive firms, the German based automobile company has attributed the latest decision to raw material price hike resulting in increased cost of manufacture for cars in India. Volkswagen will hike prices by two per cent across models.

As a result, both mid-sized sedan Virtus and premium SUV Tiguan are going to become costlier from Januray 1, 2024. Price of base variant of former starts from Rs 11.48 lakh. While, that of latter starts from Rs 11.61 lakh.

Other automotive companies whose vehicles are going to become more costlier beginning next year are home grown automobile manufacturers Tata Motors and Mahindra & Mahindra, India’s largest automobile manufacturer Maruti Suzuki India, Japanese based firm, Honda India, South Korea based Hyundai Motor India and luxury car makers Mercedes-Benz India and Audi India. Earlier, Audi India, had also outrightly stated that its cars will become costlier by up to two per cent across models. On the other hand, MSI, Senior Executive Officer (Marketing and Sales) Shashank Srivastava had earlier said the price hike would would be “substantial” in some models. Since, April 1, 2022, Maruti Suzuki cars have become costkier by 3.2 per cent.

The automobile companies have continuously hiked prices on account of rise in commodity prices. In earlier part of current calendar year, companies had hiked prices because of onboarding of BS VI phase – II compliant devices on vehicles. The government had made it compulsory for automotive companies to sell only those vehicles from April 1, 2023 which were fitted with BS VI phase – II compliant devices.