Volvo Car India reports 38% growth in sales in Jan-Mar quarter

Volvo Car India on Monday said it has sold 544 units in the first quarter of this year, a 38 per cent growth, over the same period last year.

The automaker had sold 393 units in the January-March period of last year.

The sales growth during the period was led by the XC60 which registered a 27 per cent growth, the automaker said in a statement.

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

"A 38 per cent growth confirms positive customer sentiments in our luxury mobility offerings," Volvo Car India Managing Director Jyoti Malhotra said.

The first quarter performance is a good indicator and the company is confident that the coming quarters will show better results, he added.

"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," Malhotra said.

The Swedish firm established its presence in India in 2007 and currently sells products through 25 dealerships across the country.