Despite the economic slowdown in the country, Volvo Auto India, part of the Swedish luxury car maker Volvo Car Corporation, is expecting its sales in India to grow more than double to 800 units this year. The company was also looking at various states for a possible location to set up its assembling unit in India, a senior official said.
“We don’t see any major slowdown in the segment we are present in. Of course, market sentiments are not good, but we expect to reach our target,” said Praveen Kumar, director-sales, Volvo Auto India. The company, which sold around 325 units last year, is targeting to sell around 800 units by end of this year, he added.
It has sold around 440 units during January-August, while the numbers for September are yet to be announced. The sales figures are on target and with the festival season coming up, the company expects the sales to grow further, Kumar added.
The Indian market is currently served through imports from manufacturing plants in Sweden and Belgium and the company is now looking for a location to set up an assembly plant in India. “A team is working on the plans and they are evaluating various states for possible location. It has to be finalised by them,” he said.
As part of expanding its market presence, the company would add three more dealers--one each in Ahmedabad, Bangalore and Delhi. It currently has seven dealers.
At present, Volvo Auto India sells four models and 10 variants in India, the prices of which ranges from Rs 25 lakh to Rs 43 lakh.
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It would also launch the V40 Cross Country model of small luxury car next year. “You should consider that not many new models are planned by the industry for the next year, but we are confident and committed to launch the new vehicle,” said Kumar. The car maker unveiled the V40 brand of small luxury car at the 2012 Paris Motor Show.
The company, which recently announced its vision to become one of the major players in the Indian luxury car market, is preparing a detailed plan to realise the vision, he added. Indian luxury car market is now dominated by three players — BMW, Audi and Mercedes Benz.