Swedish carmaker Volvo is steadily increasing its growth in the Indian market. The company registered a growth of 10 percent in 2016, despite the demonetisation affect.
Volvo's luxury SUV, the XC90 has played a vital role in the growth of the company. Volvo retailed more than 750 units of the SUV in the country last year. Motivated by the growth, Volvo sets its target towards double digit growth in 2017.
Swedish auto major aims to sell at least 2,000 vehicles in 2017. Currently, Volvo has seven different models in its product portfolio in the country.
Volvo's India product lineup ranges from the V40 to the XC90. The prices for the vehicles ranges from Rs 25.99 lakh to Rs 70.97 lakh Ex-showroom (Delhi).
The premium luxury car segment in the country is dominated by German brands such as Mercedes-Benz, BMW and Audi. Apart from that, Jaguar and Volvo are also present in the segment, but not as successful as its German counterparts.
The German car makers are focusing on the different type of products, whereas Volvo is concentrating on the advanced technology. Volvo is known for its unparallel safety features and advanced technology.
The latest offering from Volvo is the S60 Polestar sedan. Polestar is the performance wing of the company. The car is priced at Rs 52.50 lakh Ex-showroom (Delhi). The S60 Polestar is based on the standard S60 but focuses on high performance.