Volvo Auto India aims to grab 15 percent market share by year 2020

Wednesday 15 February 2012, 11:41 AM by Vikas Yogi

Volvo Auto India, a unit of the leading Swedish luxury car maker Volvo, is eying to grab 15 percent share of the luxury car segment in India by year 2020. The firm is looking forward to achieve a sales mark of 20,000 units per annum by that time. As per the recent estimates, the luxury segment in India is expected account for 1.5 lakh units a year by 2020.

Speaking to the reporters in the National Capital, Mr. Tomas Ernberg, Managing Director at Volvo Auto India, said, "India is very important market for us and our headquarters also recognizes this. Though we are present here for some years now, but our plan is to grow step-by-step. We are targeting 15 per cent market share of the luxury segment here by 2020."

Volvo Auto India sold a total of 320 units of its luxury cars in the Indian market in year 2011, and is aiming to sell over 800 units in the calendar year 2012.

Meanwhile, the company is all set to launch a new model from its global portfolio in the country in the first quarter of year 2013. The new model is expected to strengthen the firm’s position in the Indian market with driving volume sales.

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