Volvo to Launch Small Car V40 in June
Swedish luxury carmaker Volvo is looking at increase in sales in India by around 50% this year to about 1,200 units and will launch its new model ‘V40 Cross Country’ by June.
The C – segment hatchback is the smallest Volvo product with 50,000 units currently sold across the world, said Tomas Ernberg, Managing Director, on Wednesday.
The company had sold 820 cars last year and expects to sell 1,100 this year, he told presspersons after launching a dealership here. However, the price of V40 in India is yet to be decided.
The Swedish company has two manufacturing plants in Sweden and Belgium. Volvo is now focussing on Asia which accounts for 15 – 20 per cent share of sales of the company whose top two markets are the US and Japan.
In order to push sales, the company’s Indian arm Volvo Auto India has roped in golfer Jeev Milkha Singh as its brand ambassador.
“Last year we sold about 800 units and the target for this year is around 1,100 to 1,200 units,” said Tomas Ernberg, managing director, Volvo Auto India.
In the first quarter of this year, the company has sold 276 units, which is an increase of 140% as compared to the same period last year.
Ernberg added that currently the company would continue to sell imported vehicles in India but may consider setting up an assembly unit in future. “We will continue to import completely built units. Yes, in the long run, we would need to assemble here. Our target is to sell 20,000 units per annum by 2020 in India, by then it will be good to have assembly operations.”
Volvo Auto India has scheduled for launch V40 Cross Country model by June this year. The product will compete directly with BMW X1, which is tagged between ₹ 27.9 lakh and ₹ 32.5 lakh ( ex showroom Delhi ).
Currently, Volvo Auto India sells four models, XC90, XC60 ( SUVs ) and S80 and S60 ( sedans ) in the Indian market.
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