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Skoda Auto India is the latest car manufacturer in India to announce a hike in prices. The Czech brand has stated a 2 percent increase in prices across their entire product lineup in India. This includes the Rapid, Octavia, Superb and the Kodiaq.
Skoda states that the volatility in global markets, along with the rising input and distribution costs has led them to take this step. The increase in prices translates to a price hike of roughly between Rs 50,000 to Rs 90,000 depending on the model.
The company had already hiked prices of their products twice this year, once in January and the other in March 2018. Prices had gone up by a similar 2 to 3 per cent last time as well.
To offset the price hike, Skoda has introduced ‘Buy Now, Pay In 2020' campaign. This scheme offers a 12 month EMI holiday plan, along with 100 per cent on-road financing scheme. The campaign also offers lower interest rates and special EMI packages, among other benefits.
Zac Hollis, Director Sales and Marketing, Skoda Auto India Pvt Ltd, stated, "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. Skoda Auto India has been absorbing these incremental costs all this while but is now considering a price increase of up to 2% with effect from 01 January 2019 across its model range."
Skoda's entry-level product, the Rapid has a price tag of Rs 7.99 lakh while the top-of-the-line Kodiaq costs Rs 33.84 lakh, ex-showroom (Delhi). The Czech car maker locally assembles all four of its products at the Volkswagen plant in Aurangabad and Chakan.
Volkswagen also recently announced a hike in prices. The German brand announced a 3 per cent increase in prices across their entire product range. Other companies who have also announced price hikes include BMW India, Toyota, Isuzu Motors and Maruti Suzuki.
Skoda also globally unveiled their all-new Scala hatchback. The Skoda Scala showcases the new design language of the Czech brand. It is also the first product to be based on Volkswagen's new MQB A0 platform and is expected to be launched in International markets sometime next year.
Thoughts On Skoda India Price Hike
Skoda has joined the long list of car manufacturers in the country, increasing prices from January 2019. Skoda India has a good network in India with 67 sales and 66 service outlets. The Czech brand, being a part of Volkswagen has also taken the lead for the group's ‘India 2.0' project for the coming years.