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Luxury Cars: Volvo Eyeing 10 Percent Market Share In India
Swedish carmaker Volvo is eyeing 10 percent market share in the luxury car segment in India by 2020. The company has plans to introduce four new models in India.
Tom von Bonsdorff, the Managing Director of Volvo Auto India said during the inauguration of the company's first dealership in Kolkata, "We have grown quite a bit last year and want to continue that growth. We grew 30 per cent and sold 1,200 units."
"We are targeting at 10 percent segment share. Currently we have 4.5 percent segment share and with the upcoming launches and expanding dealership, the target can be achieved. India is one of the fastest growing markets for Volvo."
"We have variants and new products. In the next two years, we will launch three to five all-new cars, besides some variants."
Volvo, competing against German luxury carmakers such as Mercedes-Benz, Audi and BMW, wants to be on par with them, in terms of pricing and brand value.
The company also wants to increase its dealership outlets in India.
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