Skoda has officially announced a price hike of up to 2.5 per cent across its entire model range from 1 January 2021. Skoda says the price hike is a result of increased input cost due to volatility in the global commodity prices and foreign exchange rates in recent times.
Skoda currently offers only four cars in its portfolio -- the Rapid, Octavia RS245, Karoq and the Superb. The carmaker plans to expand its portfolio in 2021 with the introduction of cars like the Vision IN-based SUV, next-gen Octavia and Kodiaq petrol SUV.
Skoda is not the only carmaker in India to announce a price hike in 2021. Other carmakers to do the same include Mahindra, Maruti Suzuki, Renault, Nissan-Datsun, MG and Volkswagen.
While Maruti and Mahindra have not revealed the quantum of price hike across its models, Renault has said prices of its cars will go up by up to Rs 28,000 depending on model and variant. MG Motor has announced a price hike of upto 3 per cent and Nissan-Datsun is set to increase prices of its cars by 5 per cent. Like the Skoda, Volkswagen has also announced a price hike of up to 2.5 percent across its entire model range.
Remaining carmakers like Hyundai, Kia, Tata Motors and Honda have not yet said anything about the price hike, but they are expected to follow suit. So, if you are planning to buy a new car in a few months we will suggest you to prepone your purchase and take benefits of the year-end discounts. However, if you are someone who likes to change cars frequently (less than 5 years), we will suggest you withhold the purchase as buying a MY2020 car will have a less resale value compared to a MY2021 car.