Volvo to step up bus, truck capacity, exports

23 June 2007

Mumbai: Swedish truck and bus maker Volvo is increasing capacity in India to meet greater domestic demand and for exports, Eric Leblanc, managing director of Volvo India Pvt. Ltd said.

Volvo will export 1,000 trucks in 2008 from India to new markets, including Myanmar, Indonesia, Vietnam and possibly China, Eric Leblanc, said.

Volvo owns 70 per cent in a venture with Bangalore-based Jaico Automobile Engineering that makes bus bodies for India.

Volvo Car India, a division of Ford India that would be selling Volvo vehicles in the country by the end of this year, is looking at the possibility of having a preferred financial solutions partner. The financial partner would offer tailor-made financial solutions for prospective Volvo buyers in the country.

Volvo is likely to tie up funds with one of the leading banks in the country. Such a tie-up allows the automaker to avail themselves of a range of financial services that would include competitive interest rates. It may also include innovative and quality premium quality of service like BMW has across its nationwide dealership network and ICICI''s Direct Sales Agency (DSA).

The company is gearing up for its forthcoming car launches of the Volvo S80 (luxury sedan) and the Volvo XC90 (sports utility vehicle).