Volvo to launch entry level sports car in Indian auto market
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Swedish automobile manufacturer Volvo Car Corporation is planning to launch an entry-level sports car in India. With the launch of this product and extensive plans for the future, the company expects to establish its repute within the Indian automobile circuit.
Sudeep Narayan, Director of Volvo Auto India, said, “We had earlier thought of introducing the Tourer V40 but decided in favour of a new entry-level product. The product would make its global début at the Paris Motor Show. It is expected to be introduced here within the next six months.”
It has been speculated that the sports wagon scheduled to be launched in India is the V60 model. The car will be showcased at the Paris motor show in September. It would be available in 5 different variants with 1.6- to 3-litre engines. The V60 will also be available in the diesel version with engine capacities of 1.6, 2 and 2.4 litre. The Indian price is estimated to be around Rs. 25 lacs.
The models currently available in Volvo showrooms in India are the sedans-S60, S80 and the SUVs-XC60 and XC90. The Delhi ex-showroom price range varies from Rs 25 lacs to Rs 49.50 lacs. However, these cars hardly lay an impact on Indian markets with only 326 units selling in the 2011 fiscal year. With the launch of the new sports car, the auto maker aims at selling 800 units in the 2012 fiscal.
The current market leaders in the luxury car segment are more than just a match for Volvo, which is still an insignificant player. In the first quarter of the 2012 fiscal, 2,088 units of BMW were sold, followed by Audi with 1,908 units which overtook Mercedes selling just 1,257 units.
With these statistics, it might get a little difficult for Volvo to give competition to the other auto makers in the segment. However, it is surely a smart move for the long-term plan of Volvo, which aims to become the 3rd largest luxury car maker in India by 2020.
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