Skoda looking to hike car prices by up to 2.5% from January 1

European car manufacturer Skoda on Tuesday said it is looking to hike car prices by up to 2.5 per cent from January 1, 2021 in view of increasing production costs.

Some of the automakers in the country have already announced price hikes for their vehicle models from January 1, 2021 on account of rising input and material costs besides fluctuations in exchange rates.

"There has been a surge in the cost of our inputs for production due to significant volatility in the global commodity prices and foreign exchange rates in recent times.

"Skoda Auto India has been absorbing these incremental costs, all this while, but is now considering a price increase of up to 2.5 per cent with effect from January 1, across its model range," Skoda Auto India spokesperson said in a statement.