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Volvo Cars India will soon start locally assembling its entire Indian portfolio. Charles Frump, Managing Director, Volvo Cars India told ET Auto that starting next year the brand will assemble all its vehicles locally.
The decision to locally assembly Volvo car models is said to be part of the government's ‘Make-In-India' initiative. The local assembly will also help Volvo expand its presence in the luxury car segment in India.
Charles Frump, Managing Director, Volvo Cars India told ET Auto, "Our sales this year will be lower than 2019. But we expect to continue to gain market share. Next year onwards we will assemble all our models locally, be in a good position."
The decision to locally assemble all its products in India, could also see Volvo bring in further investments to the country. However, the specifics of the upcoming investment from Volvo is yet to be announced.
Frump also told ET Auto that there has been a steady revival of sales in the Indian market. Demand for Volvo cars in the country seems to be improving over the last few months and is expected to grow even further with the arrival of the festive season in India.
Frump said, "In May, we were operating at 25% capacity, which increased to 50% in June. We were short only by seven units in July. Customer demand too has improved. The momentum in August is good, we are trying to weigh how much of this is pent-up demand versus actual demand."
Currently, Volvo Cars India assembles just three models in the country. This includes the XC60 and XC90 SUVs and the S90 sedan. The assembly plant for Volvo India is located near Bangalore, Karnataka. Apart from the three models mentioned above, Volvo also sells the entry-level XC40, V90 Cross Country and the XC90 Excellence Plug-in Hybrid in the Indian market.
Volvo is also said to be currently evaluating the XC40 Recharge SUV for the Indian market. The launch of the electric SUV from Volvo in India is said to take place sometime next year. The XC40 Recharge is said to be the first of four electric products from the Swedish brand for the Indian market — here are the details.
Thoughts On Volvo Planning To Locally Assemble All Its Vehicles In India
Volvo's plan of locally assembling all its products will definitely be beneficial. The local assembly will help bring down the overall costs of the cars, allowing them to undercut their competitor prices and expanding their presence in the Indian luxury car market.