Volvo Cars India Records 40 Per Cent Growth in Jan-Oct 2018

Volvo Car India has recorded a 40 per cent volume growth in the January to October period in 2018 selling 2194 units compared the 2029 units it sold in the same period last year. The Swedish carmaker is attributing the robust sales record to the Volvo XC60 and the new Volvo XC40. The XC40 SUV was launched in India this year and is Volvo's most affordable product in India and goes up against the Mercedes GLA, BMW X1 and Audi Q3.

According to the company, the strong sales are also the outcome of a recent product launches, network expansions and brand engagement programs. Commenting on the strong sales, Charles Frump, Managing Director - Volvo Car India shared, "We are extremely happy with our performance so far in 2018. The XC40 has been received well and its success is important for the brand to be accepted in the entry level luxury segment. The network expansions too have contributed to the growth and we are on-track to replicate the growth percentage previous year in 2018."

In terms of growth outlook, Volvo is hoping that the growth momentum continues even in the last two months of this year on the advent of the festive season. Over the years, the company has also increased localization levels on its cars. In May, Volvo had opened a spare part warehouse in Bhiwandi, in the outskirts of Mumbai where it will store the parts that it outsources from the local suppliers.

At present, Volvo assembles three models in India- the S90 sedan, XC60 SUV and the XC90 SUV.