Volvo eyes at Indian auto market after China and Japan

Published On Mar 11, 2011 05:23 PM By Meenal for Volvo S60 2015-2020

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The Swedish car maker Volvo recently launched the most awaited luxury sedan Volvo S60 in diesel and petrol variants, priced between Rs 27 lakh and Rs 34 lakh (ex-showroom Delhi). After creating a niche for itself in the Chinese and Japanese auto market the Swedish car maker is now eyeing at the rapidly growing Indian auto market. Volvo aims at making India its third largest market in Asia by the year 2016.

Goran Larsson President Asia Region said that looking at the upward trend of the Indian luxury car market, it is likely to conquer the second largest position in the luxury car market in Asia after China by the end of this decade. He further added that Volvo has yet to make its presence felt in the luxury car segment in India, however the company is working around ways to accelerate its growth in India.

He also said that India has the potential to become the biggest market for Volvo in Asia after China and Japan by 2016. Out of 15, 000 luxury cars sold in India last year, Volvo contributed only a small part. Only 130 luxury cars were sold under the Volvo brand.

Paul de Voijs,Volvo Auto India Managing Director said that the company wishes to contribute more towards the luxury car segment in India in the coming future.

The new Vovlo S60 marked its entry in Indian auto market yesterday, the car flaunts the "world's first pedestrian detection technology" with full auto brake.

Larsson also said that the company is looking forward at expanding the portfolio in the India auto market but is also keen at introducing quality and innovative products at affordable prices. He said that the launch of alternate fuel technology, electric vehicles and hybrid models in India is on the cards.