The Indian arm of Volvo, a well-appreciated Swedish multinational automotive maker, has officially announced its annual sales figures recorded in the domestic car market during 2012 calendar year, which represented a 155 per cent growth. The Swedish luxury car maker managed the sales of 811 units in Indian market last year with a sharp increase as compared to the number of vehicles sold in 2011.
Further, Volvo Auto India has projected a strong 50 per cent growth during the ongoing fiscal 2013 and is aiming towards selling at least 1,200 units in the country by the end of 2013. The company reported a Year-on-Year (YoY) rise in its domestic luxury vehicle market share at 1 per cent in 2011 and 3 per cent in 2012. Accordingly, the Swedish auto major expects at least 4 per cent growth in its share in Indian auto market during 2013.
Informing about the sales witnessed by the company on Indian turf, Tomas Ernberg, Managing Director (MD), Volvo Auto India Pvt. Ltd., quoted, “Volvo has sold 811 units in Indian market, which was 155 per cent more than 2011, even as the penetration of luxury segment has gone up from less than one per cent to 1.3 per cent.”
Commenting on the company's future growth projections, Ernberg added, “Volvo aims to achieve a 15 per cent market share in the luxury segment by 2020 and want to sell at least 20,000 units by then.”
At present, the Swedish auto giant competes against other imported automotive players like BMW, Mercedes-Benz and Audi in the Indian luxury passenger car market. The company is working towards the launch of its critically acclaimed Volvo V40 Cross Country crossover, which is expected to pose some stiff competition against the likes of BMW X1, Audi Q3 and Mercedes-Benz B-Class Sports Tourer in India. The Volvo models are famous for their best-in-class build along with world-class safety and security attributes. Further, Volvo cars regularly score the best results in Euro NCAP ratings, with the stylish V40 crossover being pronounced one of the safest passenger cars, available all across globe at present.
