Volvo Car India has announced a price hike across its range, effective January 1, 2022. The hike in price will be between ₹1 and ₹3 lakh depending on the Volvo model. Volvo has cited that the increase in price is due to the rise in input costs, which has now become an industry norm for carmakers to hike prices at the beginning of every year.
Volvo further added that over the last few years, volatile forex situation and disruption of the global supply chain, along with the pandemic, restrictions, and inflationary trends have led the Swedish carmaker to increase prices across its range of cars and SUVs.
Jyoti Malhotra, Managing Director, Volvo Car India said, “As with rest of the Indian auto industry, Volvo Car too has been impacted by rising input costs. Much as we would have wanted to maintain prices, the situation has left us with no other option but to share some of the input costs increases with customers. While there is no change in the price of our luxury sedan S60 and our plug-in hybrid XC90 T8, we are compelled to announce a price increase in all our other cars and SUVs ranging from one to three lakhs. This would be effective January 1, 2022.”