Volvo aims 10 per cent market share by 2020

Luxury car maker Volvo Auto India has set a target of doubling its sales this year besides eyeing 10 per cent market share by 2020, a top official said.
"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 here to unveil the company's new sporty sedan -- S60 T6 petrol version equipped with an eight speed automatic gearbox and 306 Horse Power. The car is priced at Rs 42 lakh (ex-showroom New Delhi). Artemis Cars is the new outlet for Volvo in Chennai.

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".
The company would expand its dealership network from the present 15 to 20, he said, adding the car would compete with petrol variants of German luxury brands BMW and Audi.
The Swedish luxury car maker would soon open a new outlet in Kolkata. The company sells five luxury models -- sporty sedan S60, elegant saloon S80, luxury hatchback V40, V40 Cross Country, luxury SUV XC60 and seven seater luxury SUV XC90.