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Volvo has declared the half-year sales growth in the year 2018. Starting from January 2018 to June 2018, the company has sold out 1,242 units with a vital growth of achieving 33% based on year, however, based on a lower base. The sales responsibility is highly contributed by the Volvo XC60 SUV which contributed 25% of the total units which has been sold out.
Volvo has mentioned in a statement, "Successful addition of S90 to local assembly and aggressive network expansion led to the best ever H1 (first half) sales performance for the company."
Furthermore, Volvo is expected to reach higher growth with the introduction of the recently introduced small SUV, the XC40. With the introduction of new entry-level SUV series cars, the company expects that it will attract new customers to the brand.
Charles Frump, MD, Volvo Car India mentioned, “We are extremely happy with our growth pace and intend to keep up the momentum for the rest of 2018. The recently launched XC40 is our first offering in the entry-level SUV segment and we expect the XC40 to build a new customer base for us and drive sales.”
The luxury vehicle market of the country has registered a solid growth during the first half of 2018 considering record sales of luxury makers such as BMW and Mercedes. Mercedes-Benz has reached 8,061 units, with the growth record of 12.4% on yearly basis, whereas the Mini and BMW registered combined 5,171 units sales with up to 13% year on year basis.
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