Volvo Auto India, the completely owned domestic arm of Swedish luxury car maker, is looking forward to grab a share of 4.5 per cent in the luxury car market of the Indian auto industry before the end of 2013. Speaking on this, the Managing Director of company, Tomas Ernberg was quoted as saying, “We are the fastest-growing luxury car makers in India now, taking our market share from 1 per cent in 2011 to 3 per cent last year. And, we continue to see that growth in future too. Our long-term goal is to corner a market share of 15 per cent in the luxury car segment in the country by 2020.”
While launching the V40 Cross Country model in Hyderabad, he further said that the auto maker has been working on increasing its dealership network all over the country, in order to boost sales and strengthen its foothold in the Indian auto market. “We will be opening new dealerships at locations like Kolkata and Visakhapatnam by the end of this year,” he added later.
It must be noted that Volvo Auto forayed in the country in 2007, and since then has been working on the improvement of its position in the luxury car segment. In 2012, the auto maker sold 850 units in the country, over 320 cars delivered in 2011. With this significant improvement, the auto maker is now targeting sales of 1,000 units for 2013 and 20,000 units by the end of 2020. Interestingly, by the end of this decade, the volume of Indian auto market is anticipated to touch 150,000 mark.