Volvo Expects Commercial Vehicle Market to Have Flat Growth in India

Volvo is world’s second largest commercial vehicle maker and it expects a flat growth in the Indian premium truck market this year. "We were growing about 20 to 25 per cent annually. This year we expect very flat growth although we don't expect negative trend. This is despite the fact that the heavy duty truck market in India has declined by 50 per cent in first five months," said Somnath Bhattacharjee, President, Volvo Trucks India.

Volvo Trucks opened new dealership in Goa, Svenska Technologies. Bhattacharjee admitted that Volvo has experienced a marginal dip in the sales in the first 5 months especially in March and April. However, he justifies low sales volumes as the company mainly sells to corporate or on contracts. During the general elections, the contracts were deferred therefore there was a dip in sales. It was definitely not due to the slowdown in the market.

Volvo India remains hopeful for the Indian market and expects that it will not have any negative trend in India.

• Volvo 7700 Hybrid to make a debut in Bangalore           January 24, 2012
• Volvo searching for a partner for new small cars           January 24, 2012
• Volvo unveils the XC60 plug-in hybrid at Detroit Auto Show           January 12, 2012
• Volvo to establish R & D center in India with investment of Rs 400 crore           December 30, 2011
• Full Size Sedan of the Year Award goes to Volvo S60           December 21, 2011
• Volvo S60 receives ‘full size luxury sedan of the year award’           December 20, 2011
• Volvo plans to hire more than 10,000 employees by 2020           November 29, 2011
• Upcoming V60 model will be sold as an imported car in China, announces Volvo           November 25, 2011
• Volvo to cash on green concept cars for expansion           October 31, 2011
• Volvo V60 Plug-in Hybrid to launch in Europe next year           October 20, 2011
• Volvo India enhances its brand value with a new showroom in Kochi           October 18, 2011
• Volvo plans to inject Rs 400 crore in India operations           October 14, 2011
• Volvo’s new fuel efficient D3 diesel engine with Start/Stop technology           August 24, 2011
• Volvo intends to triple its sales figures to 500 units           August 17, 2011
• No plans to assemble cars in India in near future: Volvo           July 26, 2011