Volvo India car sales registers 155 percent growth in 2012

The year 2012 saw decline in sales growth across the auto sector, but for Volvo India, the year has been particularly noteworthy. Sales growth to the tune of 155% was experienced by Volvo during the past year, with the company selling 811 units in Indian markets. These sales were much more than expectations which have prompted the company to target a growth of 50% in 2013 with an aim to sell 1200 units during the current year.

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.