Volvo Car India on Thursday announced a price hike on select models owing to the increased input costs. The Swedish luxury car brand has announced that the Volvo XC40 Recharge, XC60, and XC90 SUVs will be pricier from November 25, 2022. The price of the P8 Ultimate variant of the Volvo XC40 Recharge has been increased to ₹56.90 lakh (ex-showroom), while the price of the B5 Ultimate trim of the XC60 SUV has been raised to ₹66.50 lakh (ex-showroom). The Volvo XC90 B6 Ultimate trim’s price has been increased to ₹96.50 lakh (ex-showroom). However, prices of the Volvo S90 Petrol Mild-Hybrid and XC40 Petrol Mild-Hybrid remain unchanged.
The automaker claimed that the price hike decision had been made due to rising input cost pressures. Continued disruption of global supply chains leading to higher logistic costs has led to the increase in input costs, further claimed the automaker. Volvo Car India further said that the customers who have already booked their cars till 24th November would not be affected by this price hike.
speaking about the price hike Jyoti Malhotra, Managing Director of Volvo Car India, said that the rising global inflation has forced the auto company to share some of the rising input cost with its consumers. “We have decided to hold the price line for all vehicles booked till today and effect the rise on select models from 25th November 2022. Prices of S90 Petrol Mild-Hybrid and XC40 Petrol Mild-Hybrid will remain unchanged,” he further added. The automaker currently sells XC40 Recharge pure electric SUV, XC90 SUV, XC60, XC40 petrol model and luxury sedan S90 in India. Apart from the XC40 Recharge, all other models come with a petrol mild-hybrid powertrain and are assembled at the Bangalore plant of the automaker.
First Published Date: 24 Nov 2022, 15:04 PM IST