Volvo Car India Thursday reported 25 per cent increase in retail sales in 2018-19 at 2,687 units as against 2,157 units in the previous fiscal.
This growth was largely driven by new product launches, including SUV XC40, the company said in a statement.
The growth was further fuelled by opening five new showrooms across India in Calicut, Raipur, Kolkata, Indore and South Mumbai, it added.
"We had a strong performance in the last financial year because of greater customer demand for our award winning products and new dealer openings," Volvo Car India Managing Director Charles Frump said.
On the outlook, he said: "We continue to be optimistic about the future, but are somewhat cautious about the year ahead owing to external factors and predictions of an impending downtrend.
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