- Volvo has cited a rise in input costs as the reason behind this price hike.
- Local car manufacturers like Tata, Mahindra, and Maruti Suzuki will also be hiking the prices for their SUVs next month.
- Last month, Volvo pulled the ICE variant of XC40 from the Indian market.
Joining luxury automakers like Mercedes Benz, BMW, and Audi, Volvo has also announced a price hike across its catalogue of cars starting from January 2024. Currently, the Swedish automaker offers 5 cars in India – XC90, XC60, S90, C40 Recharge, and XC40 Recharge. The first 3 are ICE vehicles while the latter two are EVs.
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Volvo becomes the latest automaker to announce price hikes for 2024
Volvo has cited the same reason behind the price hike as other automakers. A rise in input and production costs has led to a surge in pricing for its vehicles. All of the Volvo cars are assembled at the automaker’s plant in Bengaluru. The petrol variant of the XC40 Recharge was pulled from the Indian market last month. While the automaker did not give a reason behind this decision, it is believed to be in alignment with its global policy of slowly phasing out ICE vehicles in favour of EVs.
Back in October, prices for the C40 Recharge were hiked by Rs 1.70 lakh, following the conclusion of its introductory price offer. The EV was launched in India at a starting price of Rs 61.25 lakh. Here are the prices for all of Volvo’s offerings in India.
|Rs 56.90 lakh
|Rs 62.95 lakh
|Rs 67.85 lakh
|Rs 98.85 lakh
|Rs 68.25 lakh
Volvo C40 Recharge shares its Compact Modular Architecture (CMA) Platform with the XC40 Recharge. The coupe-SUV is powered by a dual motor that generates a maximum power output of 408hp and 660Nm of torque. It gets a 78kWh battery pack that delivers a driving range of 530km. Using a 150kW fast charger, this battery pack can be fully replenished in just over 30 minutes.
Maruti Suzuki, MG Motor, Mahindra, Tata Motors, Hyundai, and Skoda have announced price hikes for 2024. SUVs are expected to get the biggest hike. In other news, Volvo unveiled the EM90 electric MPV last month. Powering the MPV is a rear-mounted electric motor that can produce a maximum power output of 272hp. The 116kWh battery pack on this MPV can power it for 738km on a single charge. It can be charged from 10-80% in under 30 minutes.