Volvo Car India has announced a new price hike across its Indian line-up. The Swedish carmaker has increased the prices of its petrol mild-hybrid variants with immediate effect. Cars like the XC40, XC60, S90 and XC90, which have mild-hybrids, will see a hike of 1-2 percent in their ex-showroom prices. The carmaker says this is due to the recent hikes in the customs duty as announced in the Indian Budget.
Details of the price hike
As per the hike, the XC40 B4 mild hybrid will now retail at INR 46,40,000. Meanwhile the XC60 B5 mild hybrid will set you back by INR 67,50,000. The S90 B6 mild hybrid’s ex-showroom price is revised to INR 67,90,000 while the XC90 B6 mild hybrid will cost buyers INR 98,50,000.
According to Volvo, the recently announced custom duty hikes has resulted in an increase in the input costs of materials for the mild hybrid petrol. Hence, the marginal hike has been passed on to the customers with an immediate effect.
Volvo’s local assembly in India
Volvo India assembles cars like the recently launched all-electric XC40 Recharge, the XC90 SUV, the mid-size SUV XC60, the compact luxury SUV XC40 as well as the luxury sedan S90 at the Bangalore plant.
Volvo’s Presence in India
While Volvo has been a late entrant to the luxury segment in India, it is slowly increasing its presence lately. Currently, the company has 24 dealerships across cities like Ahmedabad, Bengaluru, Chandigarh, Chennai, Coimbatore, Delhi NCR – South Delhi, West Delhi, Gurgaon, Hyderabad, Indore, Raipur, Jaipur, Kochi, Kozhikode, Kolkata, Lucknow, Ludhiana, West Mumbai, South Mumbai, Pune, Raipur, Rajkot, Surat, Vishakhapatnam and Vijayawada.
Volvo’s all-electric plans
It has been widely known that Volvo is transitioning to an all-electric brand. As per Volvo, they will attain 50 per cent electric globally by 2023. And by then, for the Indian market, they could be 100 per cent electric at the same time. To achieve this in India, the carmaker is going to be 100 per cent electric by 2025. Similarly, for the Australian market, they are targeting to attain 100 per cent by 2026.
Also Read – Volvo plans to go full EV in India by 2025?.
