2011 Polo-based Vento saloon prices rise by 2.9 percent
The Indian-built, Polo-based Vento saloon will cost 2.9% more from today, 1 January 2011. Volkswagen announced the price rise at the end of 2010, and has blamed the constant rise of raw material prices and an increase in manufacturing costs. Profit margins are decreasing, so the German giant has been forced to pass on increases to its customers. Neeraj Garg, Member of Board of Director for Passenger Cars, Volkswagen India, said: ‘The company has been continuously facing the issue of rise in input prices for sometime now. Volkswagen has tried its best to absorb the price hike, but now it is too hard to maintain the quality for which the company is known.’
[Source: cardekho.com]
