Having sold 725 cars already in the Indian market till November this year, Swedish luxury car maker Volvo Auto India expects to sell 815-820 units in the current year against the previous estimates of 800 units. Last year, the company sold 326 units in the Indian market.
Speaking to Business Standard, Volvo Auto India, managing director, Tomas Ernberg said, "We have already sold 725 cars during the period April to November this year. Buoyed by the response from the Indian market, we are eyeing sales of 815-820 units this year. A growth of 150% in sales figures has been possible only because of the strategic associations Volvo has had this year. Currently, we have four products in our portfolio and plan to introduce an entry-level car V40 Cross Country to India by June next year. "The company sells sedans S80, S60 and sports utility vehicles XC90 and XC60 in India. All the models are imported from Sweden as CBU (completely built unit).
With the forthcoming Volvo V40 crossover the company is going to amplify its position and get a stronger hold on the Indian market. "There is an intensified focus on India from the headquarters. We are targeting to touch an annual sales of 20,000 units by 2020," he added.
Meanwhile, the company announced that it is strengthening its foothold in the country by opening a new dealership in Ludhiana, Punjab. With this dealership, Volvo Cars are now available in nine cities. Volvo Cars, till now, was marketing its products through its dealerships in Delhi, Mumbai, Chandigarh, Kochi, Chennai, Pune, Coimbatore and Hyderabad. It has plans to further extend it to 13 in the next couple of months.
He added, "The expansion of our dealer network signals the importance of the Indian market to Volvo Cars. We believe that India holds tremendous potential for our brand and want to make sure that we fully capitalise on the opportunities available, while providing the best possible services for our customers at the best value. Also, Punjab is an important market for us and after our successful existence in Chandigarh, we decided to open another dealership in Ludhiana."
We are also in talks with prospective dealers for showrooms in Gurgaon, Ahmedabad and Bangalore."
He also mentioned that in the beginning of the year Volvo brought its international Golf property, Volvo World Golf Challenge, to India in partnership with Professional Golf Tour of India (PGTI) and in the middle of this year it associated itself with the "creme de la creme" fashion property, Lakme Fashion Week, as the official car sponsor. "Our foray in Golf and fashion stems from our strategy of engaging with the top five per cent HNI who have the propensity to own a luxury car brand like ours," he added.