Volvo Car India has announced an increase in the ex-showroom prices of its cars. The price hike ranges between Rs. 1 lakh and Rs. 3 lakh depending on the model and will be effective from January 1, 2022. The price hike is a part of cyclical price revision which has become a norm in the industry and the Swedish carmaker has cited rise in input costs as the reason for increasing the prices. The company says that over the last few years, a volatile forex situation, disruption of global supply chains owing to the pandemic, induced restrictions, and inflationary trends have led to increased costs of inputs.
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The Volvo XC60 will get a price hike of Rs. 1.6 lakh.
Jyoti Malhotra, Managing Director, Volvo Car India said, "As with rest of the Indian auto industry, Volvo Car too has been impacted by rising input costs. Much as we would have wanted to maintain prices, the situation has left us with no other option but to share some of input costs increases with customers. While there is no change in the price of our luxury sedan S60 and our plug-in hybrid XC90 T8, we are compelled to announce a price increase in all our other cars and SUVs ranging from one to three lakhs. This would be effective January 1, 2022."
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The Volvo XC40 will witness a price hike of Rs. 2 lakh.
| Model | Current Prices | Hiked Prices | Difference |
|---|---|---|---|
| Volvo XC40 | Rs. 41.25 lakh | Rs. 43.25 lakh | Rs. 2 lakh |
| Volvo XC60 | Rs. 61.90 lakh | Rs. 63.50 lakh | Rs. 1.6 lakh |
| Volvo S90 | Rs. 61.90 lakh | Rs. 64.90 lakh | Rs. 3 lakh |
| Volvo XC90 | Rs. 89.90 lakh | Rs. 90.90 lakh | Rs. 1 lakh |
The company will be increasing prices across its model range and while its flagship SUV - the Volvo XC90 will receive a price hike of Rs. 1 lakh, the Volvo S90 flagship sedan will see a steep increase in prices at Rs. 3 lakh. Prices of the entry-level Volvo XC40 T4 R Design will go up by Rs. 2 lakh while the Volvo XC60 will be Rs. 1.6 lakh more expensive.
Source: ET Auto
