Volvo has been slightly overshadowed in the previous quarter and is now looking forward to make progress in leaps and bounds. A couple of adjustments have been made to make the most of the situation in the Indian automobile industry. Incidentally, the Swedish car manufacturer is all set to make a debut in the luxury car segment. The manufacturer will challenge the likes of German names like Mercedes-Benz, BMW and Audi. The segment has seen an aggressive growth in the last fiscal, while Volvo has shown only a steady rise. It is thus, launching three cars in 2015 to give strong competition to its rivals in 2015.
The first car to make a debut in the market will be the standard V40 variant, which will rival the likes of 1-Series as well as the A-Class. The hatch has the potential to counter the markets of both these popular car models. The Volvo hatch is powered by the same D3 engine, which runs the V40 Cross Country. It is expected to be priced around Rs 26 lakhs INR. This segment has seen an enormous growth in the last couple of months and Volvo is looking forward to tap this opportunity. Volvo is also looking forward to launch the V40 Cross Country, which will be powered by a 1.6-litre engine. The price tag of this car is expected to be slightly lower than Rs 30 lakhs INR. Incidentally, the third car, which is set to hit the markets, is the S60, which is expected to produce a power output of 304 hp.
The company is also looking forward to touch a 15 per cent market share in the medium term. Tomas Emberg, Managing Director of Volvo Auto India said, "We set out on a growth plan a few years ago. In the past three years, we have seen our dealer footprint increase to 20 from five and sales have increased multi-fold. We should be closing the year with 2,000 cars led by the newer compact car."
