Volvo eying bigger share of Indian market riding on class-leading services

Volvo says it will achieve its target with a clear-cut strategy that rests on rapid launch of new products, expansion of its dealership network

Swedish luxury car maker Volvo, which has been present in India for about a decade now, has set its sights on capturing 10 per cent of the share in the Indian luxury car market by 2020 up from the current 6 per cent. Nothing out of the ordinary, just that luxury vehicle manufacturers found the going much more challenging in India last year than many other markets. While the year 2018 looked promising initially, they ended it in the slow lane as factors such as high import costs and the depreciation of the rupee together with a severe liquidity crunch