Volvo Car India estimates that electric vehicles (EVs) will constitute one-third of its total sales in 2024.
In 2023, the luxury car manufacturer recorded overall sales of 2,423 units. Electric vehicles accounted for 28 per cent of its total sales in 2023.
Electric models XC40 and C40 reported sales of 510 and 180 units, respectively. The shift towards electric mobility aligns with Volvo’s aim to become a fully electric car company by 2030.
In the luxury segment of EVs, Volvo holds a 24 per cent market share, securing the second position in India. BMW is the top player in this segment in the country.
