Volvo Car India: Driving Forward with 40% Growth
Volvo Car India has left an indelible mark on the automobile industry, with a remarkable 40% growth recorded in the period from January to September 2023. During these nine months, a total of 1751 Volvo cars found their proud owners, a significant leap from the 1251 units sold during the same period the previous year. What’s the secret behind this impressive growth story? Let’s delve into the details.
The XC60 Takes the Lead
One of the primary drivers of this growth story is the sleek and stylish XC60, contributing to a substantial 35% of the total sales volume. The XC60 has captured the hearts of Indian customers with its perfect blend of luxury, performance, and safety features. It’s no surprise that it continues to be a favored choice among discerning buyers.
Going Electric: The XC40 Recharge
Volvo’s commitment to sustainability is evident in its all-electric offering, the XC40 Recharge. Locally assembled in India, the XC40 Recharge has performed exceptionally well, garnering a total of 419 units sold during the January-September 2023 period. This impressive figure accounts for 24% of the total sales volume. Electric vehicle (EV) sales have made significant strides, constituting 27% of the total sales during these nine months.
Indian customers are increasingly turning to electric vehicles, and Volvo’s EV offerings have resonated with them.
A Word from the Managing Director
Mr. Jyoti Malhotra, Managing Director of Volvo Car India, shared his insights on this stellar performance. He remarked, “It has been a remarkable three quarters with an encouraging 40% sales growth from January to September 2023 as compared to last year, driven by the XC60 and our Pure Electric offerings XC40 Recharge & C40 Recharge. This success reflects customer confidence and our commitment to providing premium, sustainable vehicles to the Indian market.”
Mr. Malhotra went on to express his delight regarding the support and affection shown by customers towards the brand. As the festive season approaches, Volvo Car India has announced an exclusive “Festive Delight offer” for customers, further enhancing the joy of owning a Volvo.
The C40 Recharge: A Resounding Success
Volvo Car India recently unveiled the C40 Recharge, its second electric car offering following the XC40 Recharge. The response to the C40 Recharge has been nothing short of remarkable, with over 100 cars booked within the first month of its launch. It’s a testament to the Indian market’s growing interest in electric vehicles.
The C40 Recharge will also be assembled locally at Volvo’s plant in Hoskote near Bengaluru. This aligns perfectly with Volvo’s mission to have a fully electrified vehicle portfolio by 2030. By introducing the C40 Recharge, Volvo Car India reinforces its position as a major player in the luxury electric vehicle market. This endeavor goes hand in hand with the introduction of the XC40 Recharge, and the company has more exciting models in the pipeline.
What Lies Ahead
Volvo Car India has ambitious plans for the future, aiming to sustain its impressive growth momentum. The company is gearing up to launch new models and expand its dealer network across the country. Among the upcoming models are the new C40 Recharge and S60, promising to offer customers an even wider array of choices.
Volvo’s remarkable growth in India mirrors the burgeoning demand for luxury cars in the country. India is now the world’s third-largest luxury car market and is poised for continued expansion. Volvo is strategically positioned to thrive in this dynamic environment, given its strong brand reputation and unwavering commitment to safety and innovation.
In conclusion, Volvo Car India’s journey is a testament to the company’s dedication to providing premium, sustainable vehicles to the Indian market. With a growing portfolio of electric vehicles, it is set to play a prominent role in the future of the Indian automotive landscape. The road ahead is bright, and Volvo is on a mission to lead the way.