Volvo Car India on Thursday announced price increases for some models due to rising input costs. The Swedish luxury car brand has announced that the Volvo XC40 Recharge, XC60 and XC90 SUVs will be more expensive from November 25, 2022. The price of the P8 Ultimate variant of the Volvo XC40 Recharge has increased $56.90 lakh (old showroom), while the price of the B5 Ultimate version of the XC60 SUV has been raised $66.50 lakh (old gallery). The price of Volvo XC90 B6 Ultimate trim has been increased $96.50 lakh (old gallery). However, the price of Volvo S90 Petrol Mild-Hybrid and XC40 Petrol Mild-Hybrid remains unchanged.
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The automaker believes that the decision to raise prices was made due to increased input cost pressure. The automaker went on to claim that the continued disruption of the global supply chain resulting in higher logistics costs has resulted in an increase in input costs. Volvo Car India added that customers who have booked a car until November 24 will not be affected by this price increase.
Talking about the price hike, Jyoti Malhotra, CEO of Volvo Car India, said rising global inflation has forced the car company to share some of the rising input costs with consumers. He added: “We have decided to keep the prices for all pre-ordered vehicles unchanged until today and have the effect of the increase for select models from 25 November 2022. Prices of S90 Gasoline-Hybrid and XC40 Gasoline-Hybrid will remain unchanged”.
The automaker is currently selling the all-electric SUV XC40 Recharge, XC90 SUVs, XC60, petrol model XC40 and luxury sedan S90 in India. Aside from the XC40 Recharge, all other models are equipped with a petrol mild-hybrid powertrain and are assembled at the automaker’s Bangalore plant.
First published date: November 24, 2022, 15:04 PM IST
