Volvo Cars India, a prominent player in the automotive industry recently disclosed its decision to increase the prices of its Internal Combustion Engine (ICE) models effective from January 1, 2024. However, it's noteworthy that this price adjustment applies solely to the ICE models with no corresponding changes for the electric vehicles in Volvo's lineup.
The specific quantum of the price hike has been unveiled shedding light on the adjustments for each ICE model. The XC60 will witness an increment of Rs. 1,05,000, while the XC90 will become dearer by Rs. 2,04,900. Volvo Cars India attributes this decision to the mounting input costs and the impact of fluctuating foreign exchange rates factors that have contributed to the need for a measured adjustment in the pricing of their ICE offerings.
Presently, Volvo Cars India offers a diverse portfolio in the country encompassing two electric models and two ICE models. The electric lineup includes the C40 Recharge and the XC40 Recharge while the ICE segment features the XC60 and the XC90 SUV.
Below are the revised ex-showroom prices for all Volvo models:
- C40 Recharge: Rs. 62,95,000
- XC40 Recharge: Rs. 57,90,000
- XC60: Rs. 68,90,000
- XC90: Rs. 1,00,89,900
It is pertinent to highlight that despite the price adjustments for ICE models Volvo Cars India has opted to maintain the existing prices for its electric SUVs reinforcing the brand's commitment to the electric mobility landscape. As the automotive industry grapples with various economic factors, Volvo's strategic decision aims to balance the equation between market dynamics and consumer expectations ensuring a continued and sustainable presence in the Indian automotive market.