Swedish luxury carmaker Volvo hiked the prices of its vehicles in India by up to 2.5% starting April 1.
“The increase is due to rise in input costs which affects all models sold in India,” the automaker said in a statement on Friday.
“All the models would undergo an upward revision in the ex-showroom prices by up to 2.5%. The revised prices shall be effective in April 2017,” the company said.
Volvo Auto India sells SUVs, luxury hatchbacks, sedans and SUVs in India, priced between Rs 25.49 lakh and Rs 1.25 crore, which also includes a plug-in hybrid SUV XC90 T8.
The increase in price follows similar announcement from Japanese carmaker Honda whose cars in India will get costlier by up to Rs 10,000 from the next fiscal to offset higher freight charges and input costs. Last week, German luxury carmaker BMW also said it would hike the cost of its vehicles in India by around 2% from next month.