Volvo Car India to Adjust Prices Amidst Global Disruptions

Volvo Car India is set to increase vehicle prices by up to Rs 1 lakh starting May 1, due to ongoing global supply chain issues and currency fluctuations. The luxury automaker emphasizes that more adjustments might follow if global economic conditions persist. Currently, Volvo operates 23 showrooms and 25 workshops across India.

Volvo Car, the renowned Swedish luxury automobile manufacturer, has announced a price hike for its models in India, set to take effect from May 1. The increase, capped at Rs 1 lakh, comes as a direct consequence of enduring global supply chain hurdles and fluctuating foreign exchange rates.

In a statement, Volvo Car India explained that this price adjustment is necessary to navigate the economic challenges that persist in the global market. The company also hinted at the possibility of further price revisions if the current geopolitical and economic landscape remains unchanged.

The luxury car giant currently sells its offerings through 23 showrooms and 25 service workshops across India, indicating its significant presence in the country's automotive market.

(With inputs from agencies.)