Skoda Auto initiates price hike to the tune of 1.8 percent with effect from August 2012

Wednesday 25 July 2012, 11:36 AM by

Skoda Auto India, the Indian subsidiary of Czech based automaker, is initiating a price rise of around 1 to 1.8 percent planned to be imposed across its Indian portfolio. The Skoda range with revised prices will hit the market in early phase of August this year. The major determinants of the price hike are the mounting cost of inputs and the highly inconsistent exchange rates in the global markets.

Skoda Auto initiates price hike to the tune of 1.8 percent with effect from August 2012 | CarTrade.com
Skoda Auto initiates price hike to the tune of 1.8 percent with effect from Augu

The growth currently recorded in the Indian auto market is negating with sales moving at the slowest pace since the last seven months. Besides, the surging prices of fuel, discouragingly high interest rates backed up by intensifying competition is further aggravating the issues in the price policy of the car makers in India.

Despite of these constraints, the Volkswagen Group subsidiary spearheaded to score a whopping sales growth of 82 percent in the month of June this year. The sales registered in June this year totalled to 4,923 units as compared to the sale of 2,610 units in month of June in the last calendar year.

Skoda Rapid, the subcompact sedan emerged as a significant contributor in boosting the sales volumes by 3,246 units in the concerned period and by lining up Skoda Superb Ambition, the company aims to optimally capitalise on the rising demand of D-segment cars in India.

The sales performance of the Volkswagen Group’s in India has been regulated under the group’s ‘2018 Growth Strategy’. As per the strategy, Skoda is missioned to gear up its worldwide sales by a minimum of 1.5 million vehicles annually.