Skoda Octavia RS
Skoda Octavia RSSkoda

The Czech carmaker Skoda has announced that the company will hike the prices of its models in India from January 1. The price hike will be in the range of 2 to 3 percent.

Changing market conditions and various economic factors are the reasons for the proposed price hike, the company stated. Skoda's India portfolio includes four models--Rapid, Octavia, Superb and the recently launched Kodiaq SUV, priced between Rs 8.20 lakh to Rs 34.50 lakh (all prices, ex-showroom Delhi).

Also read: SOLD OUT! Wait for Skoda Octavia RS in India means nothing till 2018

It has become a trend for automakers in India to increase the prices of their range of vehicles just before the close of a year. As Skoda announced the price hike, other carmakers are likely to follow suit in the coming days.

Also read: Bengaluru man gets Skoda Regular Rapid disguised as Black Edition, takes dealer to court

Skoda launched Octavia RS, the performance-oriented car in India, on September 1 and all Octavia RS cars allotted for the market were sold out within few weeks of its launch. The Octavia RS, the most powerful machine of Skoda in India, packs a 2.0-litre TSI motor at the heart, which can churn out 230bhp of power and has a maximum torque of 350Nm at 1,500 to 4,600 rpm, mated to six-speed DSG automatic transmission.