Volvo has been received enthusiastically by customers in all of its markets. Its vehicles boast of quality, comfort and safety that attract buyers loyal to other brands too. Aggressive marketing strategies have allowed the Volvo brand to step up its sales in the premium brand segment.
However, now the brand will shift its attention to explore its value brand segment by incorporating a dual brand strategy. This dual brand strategy will be employed by Volvo in Indian markets as it sets out to expand its dual brand initiative globally. Under this new dual brand strategy, the company is looking to launch a bus product between the premium and tradition segments.
The subsequent mid value segment will make way for the need of about 10,000 units annually of which Volvo plans to capture 20-25% of this segment. Considering that traditional bus prices are in the Rs. 1.5 million and Rs. 2 million range, Volvo will be introducing its new value buses in the Rs. 40 lakh to Rs. 60 lakh price range.