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Volvo Has High Expectations From Indian Market
Noticing the increase in demand of luxury cars in India, the Swedish manufacturer of the safest vehicles on planet Earth, Volvo is betting big on the Indian market. They expect their sales figures to grow by 40 to 50% in the 2014 year. The plan to sell 1,500 vehicles this year, they sold 913 vehicles in 2013.
Volvo India believes that their S60 sedan and the XC60 SUV will factor to the growth in sales of their vehicles. They are the popular vehicles chosen from the Volvo portfolio by Indians. Both the sedan and SUV contribute to 65% of total sales by Volvo in India.
Tomas Ernberg, Volvo Auto India's Managing Director, told our source,"The Indian luxury car market is less than 1.5 per cent of the total car market, so we foresee immense potential in this segment. Having received wider acceptance from Indian consumers, we are bullish on the Indian market. Currently, we have five models in India and plan to introduce one more by the end of this year."
He also said, "Since it is one of the largest aviation hubs in South Asia with a heavy influx of high profile flyers, creating a Volvo lounge at such a strategic location is a step closer towards our existing and prospective customers."
Volvo Auto India will be engaging in several marketing campaigns to promote and create awareness of their brand among Indian luxury car buyers. They have just introduced their exclusive lounge at Terminal 3 Domestic airport of Delhi, the Indira Gandhi International Airport.
To further improve their brand's foothold in India, the Swedish manufacturer will introduce several new dealerships - a new dealership in Chandigarh was just opened. This year, they plan to add three more to their current thirteen dealerships in India. We expect Volvo to set up these new dealerships in Mumbai, Madurai and Kolkata.
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