Volvo looks to expand car operations in India
NEW DELHI:
Volvo, the Swedish luxury car-maker now owned by Chinese maker Geely, is looking to increase its stake in India. The company, that has been working on a revival plan globally, plans to drive in new models in the market apart from increasing its sales network as it aims at a 50% increment in volumes this year at about 1,200 units. Tomas Ernberg, Managing Director for Volvo in India, said the company expects a biog boost in India sales in the coming years and will focus on the market in a big way. Volvo will launch its new 'V40 Cross Country' model in the market by June, and thereafter get other models from its international stable. Unlike BMW and Audi who are selling close to 10,000 units in India annually, volumes for Volvo are currently low. Ernberg, however, said that new models and increased focus on the market is expected to boost volumes. In the first quarter of this year, the company has sold 276 units, up 140% from the year-ago period, he added. When asked if the company plans to set up assembly operations in India, he said, "We will continue to import completely built units." Currently, Volvo Auto India sells four models, XC90, XC60 (SUVs) and S80 and S60 (sedans) here.
NEW DELHI:
Volvo, the Swedish luxury car-maker now owned by Chinese maker Geely, is looking to increase its stake in India. The company, that has been working on a revival plan globally, plans to drive in new models in the market apart from increasing its sales network as it aims at a 50% increment in volumes this year at about 1,200 units. Tomas Ernberg, Managing Director for Volvo in India, said the company expects a biog boost in India sales in the coming years and will focus on the market in a big way. Volvo will launch its new 'V40 Cross Country' model in the market by June, and thereafter get other models from its international stable. Unlike BMW and Audi who are selling close to 10,000 units in India annually, volumes for Volvo are currently low. Ernberg, however, said that new models and increased focus on the market is expected to boost volumes. In the first quarter of this year, the company has sold 276 units, up 140% from the year-ago period, he added. When asked if the company plans to set up assembly operations in India, he said, "We will continue to import completely built units." Currently, Volvo Auto India sells four models, XC90, XC60 (SUVs) and S80 and S60 (sedans) here.
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