Volvo raises vehicle prices by 3-4%

Volvo Trucks India said on Wednesday it has increased prices of its vehicles by 3-4 per cent starting this year on account of rising input costs.

"Prices have gone up on account of high input costs especially, steel and rubber," Volvo Trucks India president Somnath Bhattacharjee told reporters at the 10th Auto Expo in New Delhi.

Bhattacharjee, who is also on the board of Volvo-Eicher Joint Venture, added that prices of Eicher products too have been increased by two per cent for the same reasons.

The company sold about 1,000 trucks last year in special segments like mining, registering a growth of about 20-25 per cent.

"The government is investing heavily in highways and infrastructure, boosting growth for the trucking industry, which is growing at 9-10 per cent," he said, adding that he expected similar growth rates this year.

The company plans to launch about 3-4 models this year. Volvo Trucks today also launched an advanced truck 'FH520 powertronic' for the heavy haulage segment.