Luxury car maker Volvo Auto India eying doubled sales this year, targets 10% by 2020
04 Jul 2015
Luxury car maker Volvo Auto India had targeted doubling of sales this year in addition to eyeing 10 per cent market share by 2020, according to a top official.
"Economy in India is prosperous now. I hope it will boost sales for premium car market also. This year we have set a target of double digit growth in India in terms of sales," Volvo Auto India, managing director, Tom Von Bonsdorff told reporters.
He was in India to unveil the company's new sporty sedan -- S60 T6 petrol version that features an eight speed automatic gearbox and 306 horse power.
The car carries a price tag of Rs 42 lakh (ex-showroom New Delhi). Elaborating about the business plans, Bonsdorff said, "last year we delivered 1,200 cars. Our market share in the premium segment right now is 3.5 per cent. We are targeting 10 per cent market share by 2020".
He added Volvo would expand its dealership network from the current 15 to 20, adding the car would compete with petrol variants of German luxury brands BMW and Audi. The Swedish luxury car maker would also open a new outlet in Kolkata.
The company has a line up of five luxury models - sporty sedan S60, elegant saloon S80, luxury hatchback V40, V40 Cross Country, luxury SUV XC60 and seven seater luxury SUV XC90.
Meanwhile, Tom von Bonsdorff, managing director of Volvo Auto India, who was in Chennai to launch the S60 T6 Petrol told T E Narasimhan of Business Standard about the company's plans for India, that all car manufacturers were quite aggressive in their growth plan.
He added, the company had record sales last year, and this year for the first time, it would reach half a million cars globally.
He added, based on the new cars on a new platform, Volvo had a line-up that was best suited for India. In 2014 (calendar year), the company reported a 30 per cent growth and sold 1,200 units and with the upcoming launches and dealership expansion, the target could be achieved.
Replying to a question about the number of dealers, Volvo was present in all the major cities, but the dealerships need to expand.
He added by end of this year, Volvo would increase its dealerships to 20.