Page 2 - Volvo Car

Automobile major VECV sales grow over 11% to 8,026 units in Dec 2023

Eicher Motors Ltd on Monday said its arm VE Commercial Vehicles Ltd posted an 11.1 per cent growth in total sales at 8,026 units in December 2023. VE Commercial Vehicles (VECV), a joint venture of the Volvo Group and Eicher Motors, had sold 7,221 units in December 2022, Eicher Motors said in a regulatory filing. December 2023 sales included 7,789 units of the Eicher brand and 237 units of the Volvo brand, it added. In the domestic commercial vehicles market, Eicher branded trucks and buses recorded sales of 7,468 units last month as compared to 6,671 units in December 2022. Exports of Eicher branded trucks and buses were down 3.3 per cent at 321 units as against 332 units in December 2022, it added.

Volvo Car India to hike prices up to 2% from Jan due to rising input costs

Volvo Car India on Thursday said it will increase prices up to 2 per cent from January 1, 2024. The decision to raise prices is on account of rising input costs and volatile foreign exchange rates, the automaker said in a statement. "The decision to adjust prices is in response to evolving market dynamics, forex exchange rate fluctuations, and rising input costs," Volvo Car India MD Jyoti Malhotra said. The price hike aims to maintain a crucial balance, ensuring the continued delivery of high standards and the best driving experiences and reaffirming Volvo's commitment to uncompromised quality and safety, Malhotra added. Volvo established its presence in India in 2007 and currently markets products through 24 dealerships in the country.

Volvo Car India retail sales increase 40% in Jan-Sep to 1,751 units

Volvo Car India on Friday said its retail sales grew 40 per cent year-on-year to 1,751 units in the January-September period this fiscal. The company had reported retail sales of 1,252 units in the year-ago period. The sales growth was primarily driven by the XC60, which contributed 35 per cent of the total volume, Volvo Car India said in a statement. Besides, the locally assembled all-electric XC40 Recharge performed well during the period with a retail of 419 units, accounting for 24 per cent of the total volume, it added. In the January-September period, EV sales accounted for 27 per cent of total sales, the automaker stated. "This success reflects customer confidence and our commitment to providing premium, sustainable vehicles to the Indian market," Volvo Car India Managing Director Jyoti Malhotra said. Volvo Cars established a presence in India in 2007 and currently sells models through 25 dealerships in the country.

Volvo Car India starts deliveries of luxury electric car C40 Recharge

Volvo Car India has commenced deliveries of its recently-launched electric car C40 Recharge with Kerala and Tamil Nadu to begin with, the company said on Wednesday. The Indian arm of the Swedish luxury car maker Volvo rolled out its first ground-up electric car in the domestic market on September 5 at an introductory price of Rs 61.25 lakh (sans taxes). The premium car company launched its first locally-assembled pure electric SUV XC40 Recharge in July last year. "Deliveries of the first born electric C40 Recharge are important milestone in our journey towards becoming an all-electric company by 2030. The C40 Recharge is the second car which is being delivered under our ambitious Online Direct Sales model, said Jyoti Malhotra, Managing Director at Volvo Car India. The C40 Recharge is only sold online directly by the company. Customers can place orders online with a refundable deposit of Rs 1 lakh on Volvo Car India website. This is the second EV model from Volvo in India getting .

Volvo Car India expects 'good' festival season for domestic auto industry

With improved supply chain situation and positive economic sentiment, Swedish car maker Volvo expects the upcoming festival season to be "good" for India's automobile industry. A top executive of Volvo Car India has said that price parity is being slowly seen between electric cars and ICE (Internal Combustion Engine) cars. Volvo Car India on Monday launched its first ground up electric car C40 Recharge here at an introductory price of Rs 61.25 lakh (excluding taxes). "We have been through a pandemic (in the) last two years. Then we had supply (chain) challenges. This year, it looks normal... If you look at the overall economy, there is generally a very positive sentiment. I think it (festive season) should be really good," Volvo Car India Managing Director Jyoti Malhotra said. The luxury car segment sales are expected to return to the 2018 peak this year, after going through a rough road during the pandemic years, he said, adding that the supply chain situation has improved though

Swedish luxury carmaker Volvo revs up with EVs, eyes record sales in 2023

Earlier, its peak sales was in 2018, when it sold 2,600 cars

Volvo Car's sales in India increased by 33% in January-June period

Volvo Car India on Wednesday said its sales grew 33 per cent year-on-year to 1,089 units in the January-June period. The company had delivered 818 units in the corresponding period of last year. The growth was primarily driven by the XC60, which experienced a substantial 35 per cent increase resulting in 376 deliveries, the automaker said in a statement. Additionally, the locally assembled all-electric XC40 Recharge performed exceptionally well, with sales of 289 units in the first half of the year, accounting for 27 per cent of the total volume, it added. "The performance in the first half serves as a promising indicator, instilling confidence that the upcoming months will yield even better outcomes," Volvo Car India Managing Director Jyoti Malhotra noted. With the upcoming launch of electric model C40 Recharge in August, the aim is to surpass its best ever year, he added. The introduction of the C40 Recharge aligns with Volvo's commitment to achieve a fully electrified vehicle

After Mercedes, Volvo to adopt direct-to-customer model for sales in India

Industry experts say that such a model may not be practical for mass-market cars given their large sales volumes

Volvo Car AB says software issues will delay output of flagship EV

Output of the EX90 is now expected to begin in the first half of 2024, Volvo said Thursday

Volvo Car India reports 38% growth in sales in January-March 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 establishe

Govts must speed up investments in EV charging infra: Volvo Cars

Some customers will hold back from buying EVs due to lack of such infra

Volvo Car India to hike prices up to 1.8% to offset rising input costs

Luxury car maker Volvo Car India on Thursday said it will increase prices of its three models -- XC90, XC60 and XC40 Recharge -- by up to 1.8 per cent with effect from November 25 in order to offset the impact of rising input costs. The prices of the S90 Petrol Mild-Hybrid, and XC40 Petrol Mild-Hybrid however remain unchanged. The ex-showroom price of XC40 Recharge will rise to Rs 56.9 lakh from Rs 55.9 lakh currently. Similarly, prices of XC 60 will rise to Rs 66.5 lakh and that of XC90 to Rs 96.5 lakh from Rs 94.9 lakh earlier. Continued disruption of global supply chains leading to higher logistic costs has led to an increase in input costs, the Swedish carmaker said in a statement. The company, however, is committed to price protection of customers who have booked their cars till today, it added. All bookings from Friday will attract new prices, the automaker stated. "The rising global inflation has forced us to share some of the rising input cost with our consumers," Volvo

Volvo-Eicher looks to make most of post-pandemic recovery in bus market

Aims to disrupt intercity segment with fully-built luxury coaches

Volvo India sees electric cars contributing to 80% of total sales by 2025

Volvo's EV plans are in line with its global strategy of transitioning into a pure electric car company by 2030

VECV reports bus sales rising, sees chip crisis easing in 3 months

Company betting on alternate fuels for growth in commercial vehicles sales, says senior executive

Volvo drives in locally assembled XC40 Recharge SUV at Rs 55.9 lakh

"The launch of the XC40 Recharge and its assembly at our Bangalore plant further reinforces Volvo Car's long-term vision and commitment to India and the Indian consumer," Volvo MD Jyoti Malhotra said

Volvo XC40 Recharge EV to be launched in India on July 26; check details

The XC40 Recharge is likely to be priced between Rs 60 lakh and Rs 70 lakh and it is expected to compete against Kia EV6, and the Hyundai Ioniq 5

Volvo Car India sets up solar power panels at Haryana, UP health centres

Volvo Car India on Tuesday said it has set up solar power panels at community and primary health centres in Haryana and Uttar Pradesh

Volvo Car eyes $2.6 billion through Stockholm IPO, says report

The deal values Volvo Cars at as much as $23 billion

Volvo Car contributes Rs 75 lakh to PM CARES Fund towards Covid relief

Volvo Car India on Thursday announced a contribution of Rs 75 lakh to the PM CARES Fund towards COVID-19 relief measures.