Volvo eyes 4.5% of luxury cars segment - Times of India

KOCHI: Citing the growing positive perspective for luxury goods in India, Swedish luxury car maker Volvo's Indian unit Volvo Auto India on Wednesday said it is targeting 4.5% of the country's luxury car market this calendar year. "With the growing number of affluent families in the country, the demand for luxury cars is growing and we are very bold about this market," said managing director Tomas Ernberg in Kochi after launching the automaker's crossover vehicle V40 Cross Country in Kerala market . Volvo cars accounted for only 1% of the premium segment in India in 2011, which grew to 3% in 2012. Regarding sales, the first quarter of 2013 was a difficult period, Ernberg observed. "Sales was dull especially during April-May period, however we are experiencing 50% growth," he added. The company sold 820 cars in 2012 and is expecting to sell up to 1,200 cars during the current calendar year. Ernberg said that Volvo is expecting to capture 15% of the luxury car segment by 2012. "We have a small market, but we are growing faster," he commented. Priced at Rs 29 lakh, the company has set a sales target of 120 units for this new car in the next six months in India. "Of which, 20-30 will be sold in Kerala," he said. The company is also planning for two new models in the D and SUV segments in the last quarter of 2013. via Technology - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFkcrYv4s-4n77ZR1yh5cI4MhKaOA&url=http://timesofindia.indiatimes.com/city/kochi/Volvo-eyes-4-5-of-luxury-cars-segment/articleshow/20672441.cms

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