Volvo Car India sales grow 33% in H1 2023; XC60 drives momentum

Volvo Car India on Wednesday announced that it has witnessed a 33% sales growth in the first half of 2023 by selling 1,089 cars during January to June period. The sales figures were up from 818 units sold in the corresponding period a year ago. The company has said that the sales momentum was primarily driven by the XC60, which contributed 35% to the figure with sales of 376 units.

The locally assembled all-electric XC40 Recharge electric vehicle accounted for 27% of the total volume with deliveries of 289 units during this period. The company expects that the launch of the C40 Recharge in August will further bolster its sales in the Indian market. “The performance in the first half serves as a promising indicator, instilling confidence that the upcoming months will yield even better outcomes," said Jyoti Malhotra, Managing Director, Volvo Car India.

The C40 Recharge was recently unveiled as the second electric offering from the brand in the country, following the XC40 Recharge. Its prices are yet to be announced by the company. The C40 Recharge will be assembled locally at the company's plant at Hoskote near Bengaluru. Bookings for the all-electric crossover will open in August while deliveries have been scheduled to begin in September.

The introduction of the C40 Recharge in the carmaker's luxury lineup is in line with its commitment to achieving a fully electrified vehicle portfolio by 2030. The EV will be built on the automaker's Compact Modular Architecture (CMA) platform, which also underpins the XC40 Recharge electric SUV. The company is betting big on both these models to pave its all-electric path.

Meanwhile, Volvo recently also launched the EX30 electric SUV, the smallest in its portfolio, at an event in Milan. It will start manufacturing it later this year at the Zhangjiakou facility in China, operated by Geely. However, it is not yet known if this EV will also make its way to the Indian shores.