Volvo Car India registers record half-yearly sales

Volumes grow 33 percent to 1,242 units in Jan-June 2018; XC40 seen as major volume driver for second half of 2018.

Published On Jul 06, 2018 07:51:00 PM

8,299 Views

Volvo Car India registers record half-yearly sales

The Indian subsidiary of Swedish carmaker Volvo has announced that it witnessed record H1 sales growth during the calendar year 2018. The carmaker delivered 1,242 units in Jan-June 2018, a significant growth of 33 percent year-on-year, albeit on a lower base.

The capable XC60 SUV spearheaded sales for Volvo, contributing to 25 percent of the total sales volume. "Successful addition of S90 to local assembly and aggressive network expansion led to the best ever H1 (first half) sales performance for the company," according to the company statement.

Moreover, the carmaker is set to witness a significant growth in sales with the roll out of its newly launched small SUV, the XC40. A new entry-point to Volvo's SUV line-up, the carmaker expects the model to bring new customers to its brand.

“We are extremely happy with our growth pace and intend to keep up the momentum for the rest of 2018. The recently launched XC40 is our first offering in the entry level SUV segment and we expect the XC40 to build a new customer base for us and drive sales,” Charles Frump, managing director, Volvo Car India said.

India's luxury vehicle market has seen robust growth in the first half of 2018 as German luxury marques Mercedes and BMW reported record sales. Market leader Mercedes-Benz sold 8,061 units, registering a growth of 12.4 percent, year-on-year, while sales of BMW and Mini combined totalled 5,171 units, up 13 percent, year-on-year.