Volkswagen Warns Its Customers That Iran War Could Cause A Price Hike

Volkswagen has warned buyers of a possible price increase for new cars due to the war in Iran, reports the automotive industry magazine “Automobilvohe”.

“The effects of Iran’s blockade of the Strait of Hormuz in response to attacks by the US and Israel are already visible around the world in fuel prices at gas stations,” said Carsten Schnake, head of procurement at Volkswagen.

He emphasized that the impact on the manufacturing sector will probably be felt only at the end of the year.

“If a solution is found by the middle of the year, we will be able to mitigate the effects. If the war drags on, we will face excessive effects and a sudden increase in costs,” he pointed out.

Schnake stated that it is not yet possible to assess the details because the issue is too complex.

“Volkswagen will try to minimize the impact on its customers, who are already exposed to high fuel prices, as little as possible,” added Schnake.

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