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Volvo India’s Remarkable 40% Sales Surge in 2023
In a standout performance, Volvo India has reported a staggering 40% growth in sales during the January-September 2023 period, showcasing the brand’s increasing popularity in the Indian market. The total units sold reached an impressive 1,751, compared to 1,251 in the same period the previous year. This remarkable growth can be attributed to the stellar performance of key models and the rising demand for electric vehicles (EVs).
The XC60, a flagship model for Volvo india, played a pivotal role in this success story, contributing a significant 35% to the overall sales volume. However, stealing the spotlight in the EV category was the locally assembled XC40 Recharge, accounting for an impressive 24% of the total sales with 419 units sold during this period.
Adding to the electrifying success, Volvo india introduced the C40 Recharge, the coupe sibling of the XC40 Recharge, in September. The response was overwhelming, with the C40 Recharge securing 100 bookings within its inaugural month. Both the XC40 Recharge and the new C40 Recharge share the same battery pack and electric motors, emphasizing Volvo’s commitment to sustainable mobility. The locally assembled C40 Recharge, like its predecessor, is manufactured at Volvo’s state-of-the-art plant in Hosakote, near Bengaluru.
Out of the total sales, EVs claimed a significant 27%, indicating a growing acceptance of electric mobility among Indian consumers. This surge in EV sales has contributed substantially to Volvo’s overall success in the market.
Mr. Jyoti Malhotra, Managing Director of Volvo Car India, expressed his delight at the remarkable sales growth, saying, “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.”
He added, “This success reflects customer confidence and our commitment to providing premium, sustainable vehicles to the Indian market. We are truly delighted to witness the overwhelming affection and steadfast support our customers have given upon our brand. We see an exciting fourth quarter ahead as we have also come up with an exclusive ‘Festive Delight offer’ for our customers this season.”
The introduction of the C40 Recharge aligns with Volvo’s ambitious goal of achieving a fully electrified vehicle portfolio by 2030. This strategic move not only reinforces Volvo Car India’s commitment to sustainability but also solidifies its position as a key player in the luxury electric vehicle market. The C40 Recharge’s swift booking milestone within the first month highlights the eagerness of Indian consumers to embrace cutting-edge, eco-friendly automotive technology.
In conclusion
Volvo India car outstanding performance in 2023 underscores the brand’s ability to resonate with the evolving preferences of Indian consumers. The success of the XC60 and the growing demand for electric vehicles, exemplified by the impressive sales figures of the XC40 Recharge and the enthusiastic response to the C40 Recharge, positions Volvo as a frontrunner in the dynamic Indian automotive landscape. With a promising fourth quarter on the horizon and a focus on sustainable mobility, Volvo Car India is set to continue its impressive journey in the Indian market.