Volvo Car India records 33% growth in H1 2023

Volvo Car India recorded a 33% growth in the first half of 2023 by delivering 1,089 cars during the January to June period, as compared to 818 units delivered in the corresponding period of last year.

The growth was primarily driven by the XC60, which experienced a substantial 35% increase, resulting in 376 deliveries, the carmaker said in a release. Additionally, the locally assembled all-electric XC40 Recharge also performed well, with 289 units during this period, accounting for 27% of the total volume. 

“The first half has been highly successful, with the XC40 Recharge representing 27% of the sales volume. The impressive 33% growth reaffirms the positive feedback from customers regarding our luxurious mobility options and their strong trust in the Volvo brand. The performance in the first half serves as a promising indicator, instilling confidence that the upcoming months will yield even better outcomes. With the upcoming launch of our Born Electric model C40 Recharge in August, we aim to surpass our best-ever year,” said Jyoti Malhotra, Managing Director, Volvo Car India.

Volvo Car India recently unveiled the C40 Recharge, its second electric car offering following the XC40 Recharge. The C40 Recharge will also be assembled locally at the company plant at Hoskote near Bengaluru. Bookings for this all-electric crossover will open in August, with deliveries scheduled to commence in September. The introduction of the C40 Recharge aligns with Volvo's commitment to achieving a fully electrified vehicle portfolio by 2030.

This launch further solidifies Volvo Car India's position as a prominent player in the luxury electric vehicle market, strengthening their dedication to electrifying their entire product lineup alongside the XC40 Recharge.