Tomas Ernberg in New Delhi on Wednesday. Picture by Ramakant Kushwaha
New Delhi, Oct. 23: Swedish auto major Volvo will drive in new models and expand its service and dealership networks in India to meet its target of a 20-fold rise in annual sales by 2020.
The company today launched upgrades of the S60 sedan and XC60 SUV. While the S60 sedan is priced between Rs 29.90 lakh and Rs 35.50 lakh, the price of the crossover SUV XC60 ranges from Rs 40.50 lakh to Rs 46.55 lakh.
“We have given attention to details and focused on quality in order to give these models a major boost and sharpen their competitiveness,” Volvo Auto India managing director Tomas Ernberg said.
Last year, the company had sold 811 units in the country. It has sold 2,500 cars since its entry in 2007.
“We are planning to have around 40 dealerships by 2020. By the end of this calendar year, we will have 15 dealerships in India,” Ernberg said.
The good performance in the luxury segment in India, even during the 10-month slump in the market, has prompted the company to have more models in this category.
“We plan to have more models by then. We are investigating which models would fit in the Indian market,” Ernberg said.
According to official figures, the domestic premium car market has witnessed an almost consistent 25-30 percent growth since 2007. Around 30,000 total luxury vehicles, including sedans, coupes, sports-cars and SUVs, were sold in India last year.
On sales projections for this year, Ernberg said the company was looking to sell around 1,000 units.
“The S60 and XC60 models will represent roughly 75-80 per cent of the sales. We are also looking to sell around 150-160 units of the compact crossover vehicle V40 Cross Country during the year,” he added.