Volvo sales report depicts an 11% increment in half yearly sales. Its surprising for a luxury brand to witness growth at a time when the entire industry is witnessing a decline.
In a time when most automobile manufacturers are recording a drop in sales month after month, a luxury auto maker seems to have done quite the opposite. As per Volvo’s half yearly sales report, Volvo Car India witnessed 11% growth in its half yearly sales from January to June, in 2019. The company sold 1,159 units in the first six months of the year, whereas it sold 1,044 units during the same time last year.
Volvo says the sales contribution from mini metros and Tier-I towns along with a great demand for the their SUVs were the key factors for the growth. Volvo Cars India has witnessed a growth of 25% in the last fiscal year. The company sold 2,687 units of passenger vehicles in FY2018-19 against 2,157 units of vehicles which it sold in the previous year.
This year’s growth can largely be credited to the XC40. It is Volvo’s most affordable offering in India and it indeed is a very good SUV. The XC40 was introduced last year and no wonder it is this SUV which has brought good fortune to Volvo. Even the larger XC60 and XC90 have proven to be very popular among the customers over time.
Charles Frump – Managing Director, Volvo Car India said, “We are extremely happy with 11 per cent growth in sales performance so far especially when the industry is not looking positive. Our brand engagement programs continue to play a crucial role in this performance. While the short term market performance looks tough, I am very confident the automobile growth will bounce back and we would be happy to replicate our sales performance of 2018.”
Volco Car India have also announced that they would be launching four new electric cars in India in the next three years. In an endeavor to save the environment and adopt the future of mobility as soon as possible, Volvo will be gradually phasing out conventional powertrains from their lineup and focus more on electrification. The next launch slated from Volvo in India would be the next-generation Volvo S60 sedan which is likely to be launched later this year or in early 2020.