Almost all manufacturers in India have announced a hike in the price of all their products from January 2024 and we have already given you a list of that. Adding to the tally is Volvo Car India and it will increase the ex-showroom prices by up to two per cent from January 1, 2024 onwards. The decision to raise prices is the result of rising input costs and volatile foreign exchange rates.
Jyoti Malhotra, Managing Director, Volvo Car India, said, “The decision to adjust prices is in response to evolving market dynamics, forex exchange rate fluctuations, and rising input costs.”
The company has witnessed a steady growth in sales when it comes to its electric cars in India and both the XC40 Recharge and the C40 Recharge are selling in good numbers. This price hike will affect the company’s entire portfolio and so the EVs too will get a little more expensive.
