After Mercedes-Benz, Audi, Volvo hikes premium car prices in India again

The war between Russia and Ukraine has pushed up the prices of various car raw materials in the international market. As a result, the production costs of various companies are increasing. Among the premium car makers in India, Mercedes-Benz and Audi have already announced price hikes. This time Volvo can write its name in that list.

The Indian arm of Volvo is planning to increase the prices of the car in view of the rising cost. Such a claim has been made in a report. Volvo has a world-renowned reputation for building sustainable cars. They sell sedan cars like S60 and S90 in this country. Also, the company’s selling SUVs include XC40, XC60 and XC90.

Volvo Car India Managing Director Jyoti Malhotra told a pan-India media outlet, however, she did not specify when or at what rate the price hike will be effective.

“Although it (raising the price of cars) seems inevitable, we have not yet reached a deadline. If you decide on it, you will know everything at the right time,” Malhotra said. Last year, Volvo’s business in India picked up momentum. They sold 1,624 cars in 2021. The company sold 1,361 units in 2020.