Volvo Car India on Wednesday said it has hiked prices of its Mild-Hybrid models by up to 2% in order to offset the impact of duty hike in the Budget.
The prices of the mild hybrid variants of XC40, XC60, S90 and XC90 have been increased by 1-2%, the automaker said in a statement.
Subsequent to the price increase, the ex-showroom price of the XC40 B4 Mild Hybrid will be ₹46.4 lakh; XC60 B5 Mild Hybrid at ₹67.5 lakh; the S90 B5 Mild Hybrid at ₹67.9 lakh; the XC90 B6 Mild Hybrid at ₹98.5 lakh.
“The changes in customs duty as announced in the recent budget has resulted in an increase in input costs of our petrol mild-hybrid models. This has resulted towards marginally increasing the price of our mild hybrids,” Volvo Car India Managing Director Jyoti Malhotra said.
Volvo’s newly launched pure electric SUV XC40 Recharge, all other petrol mild- hybrids namely, XC90 SUV, the mid-size SUV XC60, the compact luxury SUV XC40 and the luxury sedan S90, are being locally assembled at the Bengaluru plant.