Volvo India car sales registers 155 percent growth in 2012
Volvo, the Swedish car maker who is trying to fight Audi, Mercedes Benz and BMW, has registered a growth rate of 155% for 2012 in India. But with just 811 units, Volvo has a long way to go before they can challenge the the German brands.
Plans are also being made for achieving a 15% market share in the luxury segment by 2020 by which time the company aims to sell at least 20,000 units annually. Volvo V40 Cross Country is being readied for Indian markets. The company has confirmed that the vehicle will be under test by April 2013, with sales commencing by June of the same year. Prices will be around Rs 23 lakhs. Exact details will be disclosed closer to launch dates.
“Volvo has sold 811 units in Indian market, which was 155 per cent more than 2011, even as the penetration of luxury segment has gone up from less than one per cent to 1.3 per cent,” announced Tomas Ernberg, MD, Volvo India. Volvo has no plans afoot to set up a manufacturing unit in the country as of now. They would be in fact setting up two new plants in China where they are seeing increased demand.