Volvo Cars has announced increasing vehicle ex-showroom prices in India in the range of 2 to 4 per cent across its model line-up. Post the revision, Volvo cars have now received a price hike that ranges from ₹ 1 lakh to ₹ 3 lakh, depending on the model. The new prices come into effect immediately, however, the company has confirmed that it will offer 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.
The company’s entry-level model, the Volvo XC40 has received a 3 per cent hike on its ex-showroom price, which now stands at ₹ 44.50 lakh. Similarly, the XC60 Petrol Mild-Hybrid, after a 4 per cent hike, is now sold at ₹ 65.90 lakh, while the S90 sedan, after a 2 per cent hike, gets the same price tag of ₹ 65.90 lakh. The company’s flagship SUV, Volvo XC90 Petrol Mild-Hybrid, has received a price hike of 3 per cent and is now sold at ₹ 93.90 lakh. All aforementioned prices are ex-showroom, India rates.
Volvo has confirmed that it will offer price protection to customers who have booked their cars at Volvo dealerships till April 12, 2022
Commenting on the price hike, 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.”
This is the second time that Volvo Car India has announced a price hike in 2022. Before this, the company increased car prices on January 1, 2022, and even the hike was in the same range of ₹ 1 lakh to ₹ 3 lakh. Volvo says that since then the continued disruption of global supply chains, higher logistic costs and a volatile forex situation have led to a substantial increase in input costs.
Volvo is currently gearing up to launch its first fully electric vehicle, the XC40 Recharge.
Reiterating its aim to become an all-electric car company, the Chinese-owned Swedish carmaker says that it has already transitioned to an all-petrol portfolio, by phasing out diesel models. In India, Volvo has recently introduced the XC60, S90, and XC90 petrol with a 48V mild-hybrid system, and is currently gearing up to launch its first fully electric vehicle, the XC40 Recharge, .
Highlights
- Volvo has hiked car prices in India by up to Rs. 3 lakh
- Volvo says the price hike is mainly due to the increase in input costs
- Customers who booked till April 12, 2022 will get price protection
Keyword: Volvo Cars Hikes Prices By Up To 4% In India; Cars Become Dearer By Up To ₹ 3 Lakh