Volvo Cars to hike prices in India by up to 5% to offset import duty impact

Volvo Cars to increase prices in India by up to 5% to offset import duty increase

Volvo Car India on Friday said it plans to raise its vehicle prices by up to 5 per cent in order to offset the impact of increase in the basic import duty in the Budget for 2018-19.
 

Prices will be revised for the new stock which is in the pipeline to be custom cleared as the new duty structure increase will not allow costs to be absorbed, the company said in a statement.
 

"We are planning to hike prices across our range by up to 5 per cent as a direct impact of duty announced at the union budget," Volvo