Indian automakers have started the new year by revealing their individual sales projections for 2023. Similar to the majority of other luxury brands, Volvo Cars India experienced robust growth in sales last year, reporting a 31% increase in total sales over the prior year. In 2022, Volvo delivered 1,851 vehicles; by 2023, that number had risen to 2,423 vehicles. In addition, the automaker's locally built all-electric XC40 Recharge proved to be a notable performer, selling 510 units.
Volvo's best-selling model, the XC60, saw a notable uptick in sales in 2023, accounting for 921 units. Launched in September 2023, the newly designed C40 Recharge also attracted favorable attention, selling 180 units in just four months. According to Volvo, the states of Tamil Nadu and Kerala have each shipped more than 100 battery-electric vehicles (BEVs), indicating a positive reception of the technology.
Read More: Auto Sales in India Surged 11% in 2023, by FADA
The Hoskote plant, located close to Bengaluru, is where Volvo Car India assembles the C40 Recharge, a new electric vehicle that was added to its lineup in September 2023. This action was taken after the XC40 Recharge was successful. Volvo emphasizes its commitment to electrifying its whole product range by 2030 in an effort to further solidify its position in the luxury electric vehicle market.
Currently available in India are the C40 Recharge, XC40, XC40 Recharge, XC90, XC60, and S90 models from Volvo. The business has projected a price increase of up to 2% for 2024 and has attributed this move to rising input costs and changes in foreign exchange rates.
