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.