Volvo Car India Registers Growth Of 38 Per Cent In Q1 2023

For the first quarter of 2023, Volvo Car India recorded a 38 per cent growth and sold 544 cars during this during the January to March period. The Swedish automaker sold 393 units across India during the same period last year. The brand states that its mid-size SUV, the Volvo XC60, sold in large volumes with a registered 27 per cent growth in sales for the SUV. Even their locally assembled all-electric XC40 Recharge saw 138 units delivered during this period, contributing 25 per cent of the total volume.

Also Read: Volvo XC40 Recharge Deliveries Cross 200 Units In India

“It has been a good first quarter with the XC40 Recharge accounting for 25 per cent of the total volumes. A 38 per cent growth confirms positive customer sentiments in our luxury mobility offerings and their firm belief in our Volvo brand. The first quarter’s performance is a good indicator, and we are confident that the coming quarters will show better results. We remain committed to introducing a new electric model every year and we are on a good trajectory of achieving our aim of going all-electric by 2030,” said Mr Jyoti Malhotra, Managing Director, Volvo Car India.

The Swedish automaker also celebrated a milestone achieved where-in they sold the 200th unit of the all-electric XC40 Recharge in India. Since the XC40 Recharge was launched in India in 2022, the company states that they received bookings for over 500 units of the XC40 Recharge. Furthermore, following Volvo’s commitment to launching a new EV model every year, the company has announced that the all-electric C40 will be introduced in India this year. However, no tentative date has been given for the same.