Volvo to introduce cheaper versions of Volvo S60 and Volvo S80 cars

The Indian car market has witnessed a slowdown in the past few months but the luxury car market has grown considerably since the last year. This new trend that has gripped country’s car market might be due to the increase in the purchasing capacity of the Indians along with their changing attitude and brand consciousness. This tendency towards the luxury brands is gaining pace gradually coupled with many luxury brands like the Mercedes-Benz, Audi and BMW showcasing their global models in India as well, not to mention their lucrative offers to attract the customers.

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Now, we have yet another ace player in the global auto market planning to introduce the corporate editions of its successful car models Volvo S60 and Volvo S80 in India, to jack-up their sales. The Volvo Cars Corp., the Swedish auto manufacturers intend to launch the lowered down versions of luxury sedans such as Volvo S60 and Volvo S80 in Indian auto market. Tomas Ernberg, the MD of Volvo Auto India is reported to have said that Volvo is hoping to bring in slightly modest versions of their luxury sedans in India to place them at an affordable price to the Indians. It is also believed that these corporate editions, the special variants for the Indian market are going to hit the country’s market by early next year, to compete with much bigger contestants like the BMW, Mercedes and Audi. However, New Volvo S60 Price and the New Volvo S80 Price are awaited.

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As per the reports, the BMW had been the one to get a head start with introducing the cheaper variant of the BMW 3-series in the Indian auto market to increase their sales. This is by no means an unacceptable strategy, as the BMW 3-series sedan is the largest selling model of the BMW cars in India , with over one-third of the sales being brought–in by this sedan.  Apparently the company has sold 2, 381 units of the BMW 3-series in the last fiscal year. The Volvo cars Corp., at present imports and sells Volvo S60 and Volvo S80 sedans in the premium sedan segment and Volvo XC60 and Volvo XC90 in the SUV segment. The Volvo cars are priced in the range of Rs 27 lakhs and Rs 50 lakhs.

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Apparently, the Swedish auto maker do not have any plans to set up the manufacturing facility in India as of now as the cost of the Volvo car models are aggressively placed against its competitors and also, their operations in India is on a small scale right now. According to sources, Volvo sold only 150 units in the last year and hopes to increase it to 400- 500 units this year. They currently have only seven sales outlets in India selling its four models. The luxury car market, which had seen 15,000 units sale during the last year, hopes to touch 21,000 units sale in this year, increasing the growth by 21%. The Volvo cars Corp. is reported to have been bought from Ford Motors last year, by Chinese auto makers Zhejiang Geely Holding Group Co.

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