Volvo Car India records 38 percent growth in Q1 of 2023-2024

The company sold 544 cars during the January to March period as compared to 393 units sold in the corresponding period of last year. 

The growth was led by the XC60 which registered a 27 percent growth.

The locally assembled all-electric XC40 Recharge saw 138 units being delivered during this period thereby contributing 25 percent of the total volume.

Jyoti Malhotra, Managing Director, Volvo Car India, said, "It has been a good first quarter with the XC40 Recharge accounting for 25% of the total volumes. A 38% growth confirms positive customer sentiments in our luxury mobility offerings and their firm belief in our Volvo brand.

"The first quarter performance is a good indicator and we are confident that the coming quarters will show better results. We remain  committed  to introducing a new electric model every year and we are on a good trajectory of achieving our aim of going all electric by 2030."

The company has recently delivered its 200th XC40 Recharge all electric car. Post the commencement of bookings in 2022, the company had booked 500 XC40 Recharge cars.

In line with its commitment to introduce a new EV model every year, the Company has already announced that the C40 all electric model will be introduced in India this year.