Volvo Car India announced a price increase in the ex-showroom prices by up to 2 percent from January 1, 2024 onwards, on the back of rising input costs and volatile foreign exchange rates.
“The decision to adjust prices is in response to evolving market dynamics, forex
exchange rate fluctuations, and rising input costs. This move aims to maintain a
crucial balance, ensuring the continued delivery of high standards and best driving
experiences, reaffirming our commitment to uncompromised quality and safety” said Jyoti Malhotra, Managing Director, Volvo Car India.
Volvo’s Electric car range with C40 Recharge, XC40 Recharge and all other petrol
mild- hybrids namely, XC90 SUV, the mid-size SUV XC60, and the luxury sedan
S90, are being locally assembled at the Bangalore plant.
The C40 Recharge and XC40 Recharge are only sold online directly and customers
can place orders online directly on Volvo Car India’s official website, the press release noted.
Volvo Car India joins other carmakers who have announced price increases effective January 1, 2024, citing cost pressures and inflation.