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Volvo Cars India announces vehicle price hike by up to Rs 3 lakh with immediate effect

By Ruchi Upadhyay 
Updated Date

Sweden: The prices have been increased in the range of Rs 1 lakh to Rs 3 lakh, the Swedish carmaker said in a statement.

Also Read :- Volvo S90 and XC60 petrol mild-hybrid versions launched in India; Check price, specs

The ex-showroom price of various models such as XC40 has gone up by 3 per cent to Rs 44.5 lakh, XC60 by 4 per cent to Rs 65.9 lakh, S90 by 2 per cent to Rs 65.9 lakh and XC90 by 3 per cent to Rs 93.9 lakh.

“However, the company is committed to price protection to customers who have booked their cars at Volvo dealerships till April 12, 2022. All bookings after this date will attract new prices,” it added.

The company had last announced a price increase in the beginning of the year, but continued disruption of global supply chains, higher logistic costs and a volatile forex situation has led to a substantial increase in its input costs, the automaker noted.

“The last few months have seen disruption of global supply chains leading to an increase in inputs and logistics costs. This has adversely impacted Volvo Car India as it has the entire Indian automobile industry.

Also Read :- Volvo Cars will take full proprietorship of its Chinese manufacturing and sales operation

This unprecedented cost increase has compelled us to increase the ex-showroom prices of all our product offerings,” Volvo Car India’s Managing Director Jyoti Malhotra noted.

As a precursor to becoming an all-electric car company, Volvo Car India has transitioned to an all-petrol portfolio, with all diesel models being phased out.

In India, Volvo has recently introduced the XC60, S90, and XC90 petrol with a 48V mild-hybrid system.
Volvo XC40 SUV, XC60 SUV, S60 sedan and S90 sedan were among the bestselling models sold by Volvo Car India in the first half of 2021.

Various carmakers including Maruti Suzuki, Mahindra & Mahindra and Toyota Kirloskar Motor have recently announced an increase in their ex-showroom prices.

Luxury carmakers such as Audi, Mercedes-Benz and BMW have also announced price hikes recently.
The automakers blame the increase in prices of various essential commodities like steel, aluminium, copper and precious metals for increase in the overall cost of manufacturing.

Besides, increase in freight rates, overall transportation cost and supply chain issues have also led to an increase in vehicle production cost, as per the segment players.

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