Volvo Eicher to raise prices by 2% from April amid rising input costs: Vinod Aggarwal

Vinod Aggarwal, MD & CEO of Volvo Eicher Commercial Vehicles highlighted upcoming price hikes due to increased raw material costs, particularly steel, which may rise by ₹6-7 per kg, impacting costs by 2-3%. Despite strong demand in March, with heavy and medium duty trucks growing by over 35% in February, the ongoing Middle East conflict could negatively impact the economy and demand if it continues. Exports to Gulf countries have been significantly affected, but domestic demand is compensating. Aggarwal also called for the removal of the 12% safeguard duty on steel imports to alleviate cost pressures.