Volvo India posts 40% sales growth between January-October

#dailynews60 Volvo India has notched up handsome growth in sales for the period between January and October, 2018. This points at growing demand for the company’s offerings in the country.

Volvo Cars India has posted growth of 40% between January and October 2018 where a record 2, 194 units have been sold by the brand. In the same period last year, the company sold 2, 029 units. A majority of sales volumes have been driven by the new XC40 and XC60 SUVs according to the company.

Along with new product launches, expansion of the sales network has also boosted overall growth for Volvo Cars India. The company is hopeful of the momentum continuing all throughout the festive season. 5 new dealerships have been set up in India this year by the company at Raipur, Kozhikode, Noida, Kolkata and Indore. The total number of dealerships now stands at 24 across 22 Indian cities.

The Managing Director at Volvo Cars India, Charles Frump, stated that the company is delighted with its overall performance this year in terms of sales figures. He added that buyers have reacted positively to the XC40 and expansion of the network has also enhanced overall growth. Volvo posted 1, 896 units in sales volumes for the first 9 months of the year which indicated growth of 34% on a year-on-year basis as compared to the same period last year.

The luxury car segment is dominated by Mercedes Benz which sold 11, 789 units between January and September this year which indicated a slight drop of 0.7% on a year-on-year basis. BMW had sales volumes of 7, 915 units including sales volumes for the MINI brand in this period, posting growth of 11%.

Do you think Volvo has enough firepower to compete against Mercedes Benz, BMW, and Audi in the luxury car segment? Let us know below.