Volvo has announced a price hike of up to Rs 3 lakh on its range of cars, effective from Tuesday in India. The company states that the increase in price is due to the rising input cost of manufacturing. Customers who booked the car ahead of April 12, will, however, pay the previous amount.
This is the second time, that the Swedish manufacturer has announced a price hike in India, with the previous one being in the beginning of the year. The company had then reasoned the hike due to disruption in global supply chains, higher logistic costs and a volatile forex situation.
Jyoti Malhotra, MD, 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."
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Recently, Volvo Car India transitioned to an all-petrol portfolio, with all diesel models being phased out. Companies like Maruti Suzuki, Tata Motors, Mercedes-Benz, Audi, Citroen and Tata Motors have already announced plans for price hikes from January.
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