Volvo Car India has announced a price increment on its Indian model lineup, wherein the company has hiked the prices of its model by up to 4 per cent. Resultantly, the ex-showroom prices of the Swedish carmaker’s Indian range have increased from Rs. 1 lakh to Rs. 3 lakh.
The new prices of the models come into effect immediately, as claimed by Volvo. However, the company is ensuring price protection for buyers who made their bookings on or before 12 April. New bookings made after April 12 will attract the price hike.
| Model | New Ex-showroom Price | Change |
| Volvo XC40 | Rs. 44.50 lakh | 3% |
| Volvo XC60 | Rs. 65.90 lakh | 4% |
| Volvo S90 | Rs. 65.90 lakh | 2% |
| Volvo XC90 | Rs. 93.90 lakh | 3% |
Volvo Car India announced a price hike at the beginning of this year as well. It is the second time that the brand has increased the prices of its models. Volvo claims that the continued increase in logistic costs, and disruption of the global supply chain are the key driving factors for this price hike. Moreover, the volatile forex situation has further led to a substantial rise in input costs.
Mr. Jyoti Malhotra, Managing Director, Volvo Car India said “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. This unprecedented cost increase has compelled us to increase the ex-showroom prices of all our product offerings.”
As a precursor to traversing the all-electric path, Volvo Car India has moved to the petrol-only portfolio. The company has phased out all of its diesel models from the Indian market. Recently, the company has also unveiled its all-electric model – Volvo XC40 Recharge, in the Indian market. The launch will happen sometime soon.
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