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Volvo India Hikes Prices By Up To Rs 3 Lakh
Swedish carmaker Volvo has raised the prices of its entire lineup in India by between Rs 1 to Rs 3 lakh.
Swedish carmaker Volvo has raised the prices of its entire lineup in India by up to 4 per cent with immediate effect. Volvo's decision to increase prices of its vehicle lineup in India has seen the prices of the Swedish marque's cars rise by between Rs 1 and 3 lakh in the Indian sub-continent.
Volvo has stated that those who have booked their vehicles before the 12 of April will be unaffected by the increased prices. However, customers who booked their Volvo cars after the 12th will now have to adhere to the revised prices released by Volvo.
This is the second time that Volvo has hiked prices of its car lineup in India this year. Volvo blames higher inout costs caused by a volatile forex situation, global supply chain issues, and higher logistics costs for the increase in the price tags for its vehicles.
Speaking about the price hike, Jyoti Malhotra the Managing Director of Volvo Car India, said "The last few months have seen disruption of global supply chains leading to an increase in inputs and logistics costs. This has adversely impacted Volvo Car India as it has the entire Indian automobile industry. This unprecedented cost increase has compelled us to increase the ex-showroom prices of all our product offerings."
Out of all the cars in Volvo's lineup, the XC60 B5 Inscription is the most affected by the price hike. Due to an increase of 4 per cent (the highest in terms of percentage increase) in its price tag the XC60 B5 Inscription now costs Rs 65.90 lakh compared to its previous retail tag of Rs 63.50 lakh.
The model most affected in terms of actual increase in the price tag is the XC90 B6 Inscription. Before the hike the B6 Inscription variant of Volvo's family SUV cost Rs 90.90 lakh. Now after the announced increase in prices, the XC90 B6 Inscription variant now costs Rs 93.90 lakh.
Other vehicles in the lineup that were heavily affected by the price hike include Volvo's entry-level car for India, the XC40 T4R. The sub-compact luxury SUV now cost Rs 1.25 lakh more at Rs 44.50 lakh.
The larger of Volvo's sedan offerings in India, the S90 also has seen its price tag rise by Rs 1 lakh. The Volvo S90 B5 Inscription now costs Rs 65.90 lakh.
Model | Variant | Type | New Price | Change |
XC40 | T4 R Design | Petrol | 44,50,000 | 3% |
XC60 | B5 Inscription | Petrol Mild-Hybrid | 65,90,000 | 4% |
S90 | B5 Inscription | Petrol Mild-Hybrid | 65,90,000 | 2% |
XC90 | B6 Inscription | Petrol Mild-Hybrid | 93,90,000 | 3% |
Thoughts On Volvo's Price Hike
Swedish luxury carmaker Volvo is the latest automaker to increase its prices due to the increasing input costs caused by the global situation. However, the increase in price tag isn't expected to keep buyers away from the ultra-safe Swedish cars.