Volvo Car India added that it may consider further price hikes if the current geopolitical and economic situation continues to impact the global supply ecosystem.New Delhi: Swedish luxury carmaker Volvo Car India on Thursday said it will recalibrate prices of its vehicles in India by up to ₹1 lakh with effect from May 1, citing persistent global supply chain disruptions and foreign exchange volatility.
According to PTI, the company said the marginal price adjustment has been necessitated due to continued pressure on input costs and currency fluctuations.
Volvo Car India added that it may consider further price hikes if the current geopolitical and economic situation continues to impact the global supply ecosystem.
The automaker currently sells its products through 23 showrooms and 25 workshops across India.
The move comes at a time when several passenger vehicle makers have been recalibrating prices to offset rising commodity costs, logistics expenses and foreign exchange headwinds. In recent months, companies including Maruti Suzuki India, Tata Motors, Mahindra & Mahindra, Hyundai Motor India and Kia India have announced selective price increases across their model line-ups, while luxury brands have also adjusted pricing amid higher import-related costs and currency movements.
