Swedish car maker Volvo has decided to give Indian luxury car market a serious shot. A couple of days back the company officially announced roping in of Golfer Jeev Milkha Singh as its brand ambassador in India.
At the same event, Volvo also revealed that they have intentions to double its sales volumes to around 1200 units this year from 800 units of last year. They have already sold 276 units in the first quarter of the year and even if we multiply this figure into 4 quarters, the target looks easily achievable.
However, they have plans to catapult its sales by launching V40 Cross Country which will be the most affordable Volvo in India and hence, sales are bound to increase! The V40 Cross Country was slated to make an entry around March this year but according to the official word now, it will be launched in June 2013.
V40 Cross Country will go head on against BMW X1 and Audi Q3 but it will be brought in as a CBU (Completely Built Unit) which means it will attract maximum duties. Volvo has already cleared sometime back that V40 will not be priced very competitively and we expect it to be priced around the 30 lakh slab.
V40 Cross Country will be Volvo’s most important product here in India and is expected to be the major volume churner for the company. It will add to Volvo’s current lineup of XC90 and XC60 Crossovers. Apart from these, Volvo also sells S60 and S80 in the luxury sedan segment in India.
Volvo has already shown interest in setting up an assembly plant here in India if they have to notch up one of the top 3 luxury car maker crown. Volvo targets sales of 20,000 units per year by 2020 to make it to the mainframe luxury car makers we have in India.