Volvo Cars India hikes prices: Luxury vehicle company Volvo Cars India has increased the prices of all its vehicles by up to Rs.3 lakh with immediate effect. The Swedish company said in a statement on Tuesday that the prices of vehicles have been increased by one to three lakh rupees to deal with the effect of increase in raw material prices. According to the company, with this, the showroom price of the XC40 model has increased by three per cent to Rs 44.5 lakh, the price of the XC60 has increased by four per cent to Rs 65.9 lakh, the S90 has increased by two per cent to Rs 65.9 lakh and the price of the XC90 has increased by three per cent to Rs 93.9 lakh.
Watch Zee Business Hindi Live TV here
Prices were increased even at the beginning of the year
However, the company has decided to sell the cars booked at Volvo dealerships till April 12, 2022 at the same price at which the customers have booked. The company had earlier announced to increase the prices of its vehicles earlier this year. But it has decided to increase the prices of its vehicles once again due to increasing raw material costs due to continuous disruptions in the global supply chain, freight cost and volatile foreign exchange conditions. Significantly, many companies including Maruti Suzuki, Mahindra & Mahindra and Toyota Kirloskar Motor have recently announced to increase the prices of their vehicles.