Volvo India sells 2,687 units in FY2019, up 25%

Swedish carmaker clocks sales of 2,687 units, thanks to continuing upbeat demand for the XC40 and dealership expansion.

By Nishant Parekh, Autocar India calendar 05 Apr 2019 Views icon6733 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Sustained demand for the XC40 SUV has helped drive up the numbers for Volvo India.

Sustained demand for the XC40 SUV has helped drive up the numbers for Volvo India.

The Indian subsidiary of Swedish carmaker Volvo Cars has sold 2,687 units in FY2019 (April 2018-March 2019), registering year-on-year growth of 25 percent, albeit on a lower base.

Volvo India said that growth has been driven by sustained demand for the the XC40 SUV, which was launched in July 2018. What has also helped is the ramp-up in dealerships across the country, enabling the carmaker to reach a wider audience. The brand inaugurated five new showrooms across the country in Calicut, Raipur, Kolkata, Indore and South Mumbai.

Volvo India had recorded the highest growth rate among all luxury automakers in calendar year 2018, but on a much lower base. It sold a record 2,638 units, up 30 percent YoY (2017: 2,029).

However, the carmaker is cautious about sustaining the growth in this fiscal due to overall subdued demand for passenger vehicles. High import costs, depreciation of the rupee and a liquidity crunch impacted the demand for luxury cars considerably for the most part of the year.

“We had a strong performance in the last financial year because of greater customer demand for our products and new dealer openings. We continue to be optimistic about the future, but are somewhat cautious about the year ahead owing to external factors and predictions of an impending downtrend,” commented Charles Frump, managing director, Volvo Car India.


Curvv will not be a niche product: Tata Motors’ Vivek Srivatsa

auther Autocar Pro News Desk calendar20 Jul 2024

Despite the coupé-SUV body style, Tata Passenger Electric Mobility's chief commercial officer Vivek Srivatsa believes th...

Nissan Motor India reveals fourth-gen X-Trail ahead of launch

auther Autocar Pro News Desk calendar18 Jul 2024

The seven-seater X-Trail SUV will be brought into India as a CBU and will be available only with a petrol engine. The mi...

Royal Enfield launches Guerrilla 450 at Rs 239,000

auther Autocar Pro News Desk calendar17 Jul 2024

The Guerrilla 450 engine develops the same 40hp at 8,000rpm and 40Nm at 5,500rpm as the Royal Enfield Himalayan albeit t...