Auto Sales December 2023: Volvo India Posts 31% Growth

Volvo Car India sold 2,343 cars in 2023, a 31 per cent year-on-year (YoY) growth compared to 2022 when it sold 1,851 units. From January to September, Volvo sold 1,751 units in India, which itself was a 40 per cent YoY growth. 

The highest-selling model for Volvo is the XC60 SUV and Volvo sold 921 units in 2023, experiencing a noteworthy surge in demand. Following this is the XC40 Recharge, of which Volvo sold 510 units last year and it also saw a significant increase in demand. The other all-electric SUV in Volvo’s portfolio, the C40 Recharge, accounts for only 180 units since its launch in September 2023. Volvo mentions that it sold 100 units of both EVs in Kerala and Tamil Nadu each. Furthermore, Delhi NCR is the largest selling market for the brand, as it retailed 402 units in the national capital.

Jyoti Malhotra, Managing Director, Volvo Car India, said, “The outstanding surge in XC40 Recharge sales and the encouraging response to C40 Recharge highlights the strong customer response to our electric models thus furthering our resolve to launch one new EV model every year.” It remains to be seen which EV Volvo will launch in 2024. 

Volvo’s current line-up includes the C40 Recharge, XC40 Recharge, XC40, XC60, XC90 and the S90 sedan. The Swedish manufacturer has announced that it will hike prices across the model range by up to two per cent, owing to rising input costs and volatile foreign exchange rates.