In response to the potential rising costs of raw materials and components, Volkswagen (ETR:VOWG_p) India has increased the prices of its mid-size SUV Taigun and Virtus models today, Wednesday. Notably, the Highline and GT Virtus variants saw a significant adjustment.
The Taigun, available in six variants - Comfortline, Highline, Topline, GT, GT Plus, and GT Edge - experienced a price hike of up to INR 25,000. The GT Plus TSI with DSG gearbox saw the most significant increase. The current prices for the GT 1.5L DSG variant, Highline 1.0L TSI AT variant, GT 1.5L TSI MT, and Highline 1.0L TSI MT now range from INR 11.62-19.26 lakh (ex-showroom).
The Virtus model, which starts at INR 11.48 lakh, is also available in six trims from Comfortline to GT Edge Limited Edition, and comes with two powertrain options.
In an effort to compete with rivals such as Hyundai (OTC:HYMTF) CRETA, Volkswagen has added new features to select Virtus variants. These enhancements include powered front seats, footwell illumination, and a sub-woofer with an amplifier.
This strategic move by Volkswagen India to adjust prices while enhancing features underscores the ongoing challenges faced by automakers amidst fluctuating raw material costs.
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InvestingPro Tips also highlight that the company has been profitable over the last 12 months and analysts predict the company will continue to be profitable this year. These insights, along with many more, are available with InvestingPro, offering comprehensive metrics and tips for informed investment decisions.
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