Volvo Car India reports 25 percent growth in retail sales business in 2018-19

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Volvo Cars India, a business arm of Swedish luxury automaker Volvo has reported a 25 percent growth in the retail sales business.

In the statement, Volvo cars India has said that “The company has reported a 25 percent of growth in retail business sales for the year 2018-2019, where the company has sold 2,687 units as compare to the 2,157 units which it sold in the previous fiscal year.”

“The growth in the sales largely come from new product launches by the company including the recently launched SUV XC40,” the company said.

The company also stated that “The additional growth has come from the newly opened showrooms across India including the cities like Calicut, Raipur, Kolkata, Indore, and South Mumbai.”

Talking more on developments, Charles Frump, Managing Directors, Volvo Car India said: “We had a strong performance in the last financial year because of the greater customer demand for our award-winning products and new dealer openings.”

He added, “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.”