Volvo Car India sells one electric vehicle for every four cars, maintaining a 25% EV mix despite recent tax reforms. Managing Director Jyoti Malhotra credits the EX30 model’s market entry and temporary CMA platform supply shifts. The company reaffirms its all-electric future commitment.
GST 2.0 Reshapes Luxury Taxes
GST 2.0 rationalizes taxes, keeping EVs at 5% while luxury ICE vehicles above 1,200cc and 4,000mm fall under a 40% slab, down from 28% plus 15-22% cess. This makes mild-hybrid SUVs more competitive, fueling festive demand. Volvo adjusted prices accordingly, excluding EVs.
Sales Surge in Flagship Models
Post-2025 ICE refresh, XC90 and XC60 posted double-digit monthly sales growth after GST changes. Mild-hybrids gained traction as a compelling bridge option. Volvo eyes aggressive EV expansion in 2026 amid steady baseline figures.
