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Volvo Auto India expects 50pct growth in 2014

Steel News - Published on Sun, 25 May 2014

Buoyed by increased acceptability among consumers, Swedish luxury car maker Volvo Auto India is expecting a growth of 40% to 50% in the current calendar year.

The company, which sold 913 units last year across India, is targeting to sell 1,500 units this year.

Mr Tomas Ernberg MD of Volvo Auto said that \"The Indian luxury car market is less than 1.5% of the total car market, so we foresee immense potential in this segment. Having received wider acceptance from Indian consumers, we are bullish on the Indian market. Currently, we have five models in India and plan to introduce one more by the end of this year.\"

Mr Ernberg said that the major volume of sales would come from S60-sedan and XC60-SUV which presently contribute to 65 per cent of the total volume sold in India.

He said that the company is taking several marketing initiatives to increase brand awareness among the Indian consumers.

He added that the company has recently launched its first exclusive lounge at the Terminal 3 domestic departure, Indira Gandhi International Airport, Delhi.

He further added that \"Since it is one of the largest aviation hubs in South Asia with a heavy influx of high profile flyers, creating a Volvo lounge at such a strategic location is a step closer towards our existing and prospective customers.\"

Meanwhile, to strengthen its foothold in the country, Volvo has announced new dealership in Chandigarh. The company currently has 13 dealers across India and has plans to add three more in the current year, which may be in Kolkata, Mumbai and Madurai.

Source – Business Standard

(www.automobileguru.in)

Posted By : admin on Sun, 25 May 2014
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