Skoda Auto India is planning to increase prices of its premium cars in January 2005 on account of increase in input costs and for complying with the Euro-III norms.
The new factory of car major Skoda at Aurangabad in Maharashtra would begin operations by the third week of January 2004 and produce nearly 15,000 high-end luxury cars annually in 'completely knocked down' condition.
Volkswagen group company Skoda Auto India said on Wednesday that it would launch luxury car 'Superb' and premium sedan 'Laurin & Klement' in March and 'Fabia' would follow suit soon.
In an aggressive bid to double its sales and garner 20 per cent market share in India, Skoda Auto will launch seven models and variants in the next one year, a top company official today said.
Due to the continued pressure of high costs, Toyota is considering a price increase of up to 3 per cent across models with effect from January.
The company believes there is a shift in consumer demand, more buyers could opt for Skoda in future
The Competition Commission of India (CCI) on Monday slapped a penalty of Rs 2,545 crore on 14 top carmakers of the country for violating trade norms in the spare-part andafter-sale service market.