The current trend of the growth in Indian market for luxury cars promises to reach by 20000 units with 50% rate, said Volvo. The MD for Volvo Auto India said the size of luxury cars at the price of Rs20 lakhs is anticipated to reach 20000 units in this year which was 13000 units in 2010. He said the Indian car market has become a potential one for luxury cars and the segment would hold 3% in passenger car market by the end of this decade. At that time, he added, the volume would be around 1.50 lakh units. He placed this analysis on the growth rate during the last five years when it was from 0.16% in the net car market to 0.60% till 2010 of which Volvo sold 130 units and as of now the rate is, he said, 0.70% . he could not specify the fixed target for the company for this year. In all these t here years of its presence in the luxury car market, Volvo has done a decent business and the current move is dealer expansion in five cities.
The company aims to increase its presence in the segment by opening dealers in Chennai, Bangaluru, Jaipur, Kolkata, and Ahmedabad during this year. This will add to the existing dealer network in Delhi, Mumbai, Coimbatore, Chandigarh , Kochi and Hyderabad. He pointed out Delhi and NCR are the bigger markets followed by Mumbai and Hyderabad. Volvo has four premium range of cars - XC90, XC60, S80 and S60- in the Indian market.
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