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Volvo Aims to Double Its Share of India’s Luxury-Car Market
Volvo Car Corp. says new models and additional dealerships will help it expand its share of India's luxury-car market to 10% by 2020 from about 4.5% this year.
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Volvo Car Corp. says new models and additional dealerships will help it expand its share of India's luxury-car market to 10% by 2020 from about 4.5% this year.
Tom von Bonsdorff, who heads Volvo Auto India, tells The Economic Times that Volvo, which entered the Indian market only seven years ago, hiked its sales there 30% to about 1,200 vehicles in 2014.
Volvo has launched a global repositioning effort to elevate the luxury image of its vehicles and better compete with Audi, BMW and Mercedes-Benz. The company also hopes to push its worldwide volume to 800,000 units in 2020 from an expected 500,000 vehicles this year.
Von Bonsdorff says the brand will add four new models and additional variants in India over the next few years. The company also is expanding its dealership network in the country to 20 from 15 currently.
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