Volvo Car India announced a price hike of 1-2 percent across its model range in India on 22 February 2023. The quantum of increase varies depending on the models and the updated prices have been applied with immediate effect.
Let us look at the model to model price hike in detail.
Why?
Volvo said that the hike in prices was necessitated due to an increase in customs duty announced in the recent budget. This is the second price hike in the past 6 months.
The company had previously hiked prices for select models in the month of November 2022. The company said that prices of its mild-hybrid petrol range, comprising the XC40, XC60, S90, and XC90, have been hiked.
The Price Hike
Post the price hike, the XC40 B4 mild-hybrid is now priced at Rs 46.40 lakh while the XC60 B5 is now priced at Rs 67.50 lakh. The S90 mild-hybrid is priced at Rs 67.90 lakh while the XC90 will now set you back Rs 98.50 lakh (all prices, ex-showroom).
However, the Swedish automaker has not announced a hike in prices for the all-electric XC40 Recharge.
Volvo’s newly launched pure electric SUV XC40 Recharge, with XC90 SUV, the mid-size SUV XC60. The compact luxury SUV XC40 and the luxury sedan S90, are being assembled locally at the Bengaluru plant.
Official Statement
Commenting on the announcement, Jyoti Malhotra, Managing Director, Volvo Car India. said, “The changes in customs duty as announced in the recent budget has resulted in an increase in input costs of our petrol mild-hybrid models. This has resulted in marginally increasing the price of our mild hybrids.”
Volvo is expected to launch a second all-electric model in India later this year. The brand has previously confirmed the C40 Recharge coupe-SUV for the market.