Volvo Cars India announced a hike in the ex-showroom prices of its cars ranging between Rs 1-3 lakhs across all models due to rising input costs pressure. The new prices are effective from immediate effect.
The new model-wise ex-showroom prices are as follows:
The company is committed to price protection for customers who have booked their cars at Volvo dealerships till April 12, 2022. All bookings after this date will attract new prices.
The company announced a price increase at the beginning of the year, but since then the continued disruption of global supply chains, higher logistic costs, and a volatile forex situation has led to a substantial increase in input costs.
“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 Cars 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,” said Jyoti Malhotra, Managing Director, Volvo Car India.
Volvo Cars India has transitioned to an all-petrol portfolio, with all diesel models being phased out, to become an all-electric car company.
In India, Volvo has recently introduced the XC60, S90, and XC90 petrol with a 48V mild-hybrid system. The Volvo XC40 SUV, Volvo XC60 SUV, Volvo S60 sedan, and Volvo S90 sedan were among the bestselling models sold by Volvo Cars India in the first half of 2021.