Volvo Cars aims to double marketshare in India's premium segment by 2020

The Swedish premium carmaker Volvo Cars is aiming to double its marketshare in premium segment by 2020 from the current close to 5 percent share.  

While the Indian premium market is still relatively small, it is forecast to grow rapidly in coming years. In 2016, Volvo sold over 1,400 cars in India, an increase of 24 per cent compared to 2015. Year-on-year sales growth in the first four months of 2017 amounted to more than 35 per cent.

To further grow its business in the fast-expanding premium car segment in the country, Volvo Cars will start vehicle assembly operations in India