Skoda cars to be costlier by up to Rs 35,000, introduces loyalty bonus of Rs 50,000
Skoda Auto India has announced a price hike across all its models between Rs 10,000 and Rs 35,000 from March 1 to pass on the impact of custom duties announced in the Union budget.autos Updated: Feb 21, 2018 18:13 IST
Skoda Auto India announced a price hike of up to Rs 35,000 across all its models from March 1 to pass on the impact of custom duties announced in the Union budget. The company said on Wednesday that it will increase prices in a phased manner to lower the overall impact of the customs duty hike over a period of time.
“Effective March 1, Skoda Auto India will only increase prices by 1% which translates to an increase of Rs 10,000 to Rs 35,000 across the entire model range,” Skoda Auto India said in a statement. It added, “The multi-step price increase will range between 3% to 4% depending on the product and variant in the Skoda model range.”
Skoda Auto sells a range of vehicles starting from mid-sized sedan Rapid priced with a starting price of Rs 8.32 lakh to SUV Kodiaq tagged at Rs 34.5 lakh. In addition, the company said it has also introduced a loyalty bonus of up to Rs 50,000 for existing customers, who intend to purchase another Skoda product.
In the Budget for 2018-19, Finance Minister Arun Jaitley increased custom duty on CKD (completely knocked down) imports of motor vehicles, motor cars, motor cycles from 10% to 15%. Further, duty on CBU (completely built units) imports of motor vehicles (trucks and buses) has been hiked from 20% to 25% .