Volvo Car Price Hike: Buying Volvo vehicles in the new year is going to be expensive. Swedish luxury carmaker Volvo has said to increase the prices of its select models in India. Volvo said that the prices of vehicles will be increased from Rs 1 lakh to Rs 3 lakh from January 1, to reduce the impact of rising costs.
The increased prices of these models
According to the new prices, Volvo Car India said that the price of its SUV XC40 T4 R design variant will increase by Rs 2 lakh to Rs 43.25 lakh, while the price of the XC60 B5 Inscription SUV will increase by Rs 1.6 lakh to Rs 63.5 lakh.
Similarly, the company’s sedan S90 will become costlier by Rs 3 lakh to Rs 64.9 lakh from January, while the price of top-end SUV XC90 will increase by Rs 1 lakh to Rs 90.9 lakh.
what is the reason
Explaining the reasons behind the increase in prices, the company said that in the last few years, the company’s input costs have increased due to volatile foreign exchange conditions, disruption in the global supply chain, restrictions imposed by the corona pandemic, and inflation.
Jyoti Malhotra, MD, Volvo Car India, said that like the other Indian auto industry, the cost of Volvo Car has also been affected.
He said that we wanted to keep the prices stable, but the situation has left us with no option but to share some of the input cost with the customers.
New prices applicable from January 1
Malhotra said that there is no change in the price of our luxury sedan S60 and plug-in hybrid XC90 T8. But apart from this, in other models, we are forced to increase from Rs 1 lakh to Rs 3 lakh. The new prices will be effective from January 1, 2022.
Other companies like Maruti Suzuki, Tata Motors, Mercedes-Benz, Audi have already announced to increase the prices in January.