New Delhi: Volvo Trucks India on Wednesday said it has increased prices of its vehicles by 3-4 percent 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 here.
Bhattacharjee, who is also on the board of Volvo-Eicher joint venture, added that prices of Eicher products too have been increased by 2 percent 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 percent.
"The government is investing heavily in highways and infrastructure, boosting growth for the trucking industry, which is growing at 9-10 percent," he said, adding that he expected similar growth rates this year.
The company plans to launch about 3-4 models this year.
Volvo Trucks on Wednesday also launched an advanced truck 'FH520 powertronic' for the heavy haulage segment.
PTI
First Published: Wednesday, January 06, 2010, 13:40