Volvo Car India announced that it has increased the prices of select cars from its portfolio. The price increase will be between Rs. 1 lakh to Rs. 2 lakh. The Volvo cars which get a price hike are S90 sedan, XC40, XC60 and the XC90 SUVs.
Volvo Car India announced that it will increase prices of select cars from May 3, 2021. The company said that it will increase prices of the S90 sedan along with its SUV range which consists of the CV40, XC60 and the XC90. The quantum of price hike would be between ₹ 1 lakh to ₹ 2 lakh. The decision comes in the backdrop of rising input costs and weakening of the Indian currency. The last price hike by the company was announced in 2018 and since then it has maintained the price line for all its products. The decision comes as a result of increased cost in production, a volatile forex situation over the years and the impact of COVID-19 pandemic on the routine business set up.
Jyoti Malhotra, Managing Director, Volvo Car India “Our commitment to the Indian market and our customers is reflected in the fact that while the Indian auto industry went through price escalation across the spectrum, we at Volvo Cars maintained the prices of all our products for three years since 2018. We are however now faced with a situation where rising input costs leave us with no other option but to share some of these costs with the customer. We may have to relook at the prices and take further increase later in the year, depending on how input costs develop. As an organization focused on safety, we will continue to keep our promise towards our customers and prioritise their safety & well-being.”
Beginning May 3, 2021 the Volvo S90 D4 Inscription will be priced at ₹ 60.90 lakh. The XC40 T4 R-Design will be price at ₹ 41.25 lakh, the XC90 D5 Inscription will be priced at ₹ 60.90 lakh and the XC90 D5 Inscription will be priced at ₹ 88.90 lakh. There will be no change in price for the newly introduced Volvo S60 T4 Inscription, which is priced at ₹ 45.90 lakh. All prices are ex-showroom, India.