Volvo Cars To Get Costlier: Price Hike Up-To Rs 3 Lakh From Jan 1

However, the price hike does not affect all the cars under Volvo Car India's current product portfolio and cars such as the recently launched Volvo S60 sedan and the Plug-in hybrid Volvo XC90 Recharge are exempted from the price hike.

Explaining about the price hike, the company said, "Over the past few years, a volatile forex (foreign exchange) situation, disruption of global supply chains, owing to pandemic induced restrictions and inflationary trends, have led to increased costs of inputs."

Under the revised prices that will come into effect from January 1, 2022, the XC40 T4 R Design is set to become costlier by Rs 2 Lakh, this means the new Volvo XC40 T4 R Design will cost Rs 43.25 lakh (ex-showroom, India).

Whereas the larger XC60 B5 Inscription SUV has become pricier by Rs 1.6 lakh and it now carries a price tag of Rs 63.50 lakh (ex-showroom, India). The other SUV to become costlier is the flagship XC90 SUV, which now costs Rs 1 lakh more at Rs 90.9 lakh (ex-showroom, India).

However, it is the Volvo S90 sedan that carries the highest price hike. The Volvo S90 in 2022 will cost Rs 64.9 lakh (ex-showroom, India), which is 3 lakh more compared to its current ex-showroom price.

"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," said Mr Jyoti Malhotra, Managing Director of Volvo Car India.

He also said that the Volvo Car has also been impacted by the rising input costs like the rest of the Indian automobile industry.

"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," He added.

Apart from that, the Swedish company is one of the first brands in India to introduce a petrol-only product portfolio in the country. Especially at a time when the majority of customers prefer diesel powertrains.

Thoughts About Volvo Price Hike

Rising input costs have already forced many automobile manufacturers to hike the prices of their products in India. It is yet to be seen how this price hike will affect the automobile sales in the country, especially when the government is trying to boost the economy.