Volvo clocks record 40% sales growth in Jan-Oct 2018

While the mass car market struggle to sell cars even during the festival season in the country, Swedish luxury car maker Volvo has cheered the industry by clocking 40 per cent sales growth between Jan-Oct.

The brand sold a record 2,194 units in Jan-Oct 2018 period, registering a 40 per cent year-on-year growth.

Sales were led by the XC60 and the new XC40 SUVs. Interestingly, the Jan-Oct 2018 sales surpassed the number of vehicles sold throughout 2017 at 2,029 cars.

The company is hoping that the upcoming festive season will further boost sales. Volvo India has opened five new dealerships in the country since January 2018 at Kozhikode, Raipur, Kolkata, Indore and Noida, bringing the overall dealership count to 21 as of October 2018.

“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,” Charles Frump, MD at Volvo Car India, said.

With network expansions, the company is on-track to replicate the growth percentage of the previous year in 2018, he said.

Volvo competes with market leader German Mercedes-Benz, which sold 11,789 units in the Jan-Sep 2018 period, down marginally by 0.7 per cent year-on-year. Sales at BMW, India’s second largest German luxury brand, also rose 11 per cent at 7,915 units (including Mini sales) during the same time.

Michael Gonsalves