Volvo rolls out V40 Cross Country at Rs 28.5 lakh - Times of India

Volvo is targeting sales of 120 units of V40 Cross Country this year to over 240 units in calendar year 2014. The author has posted comments on this articleTNN | Jun 15, 2013, 05.38AM IST NEW DELHI:Swedish car maker Volvo on Friday launched its new model V40 Cross Country in the luxury segment as part of its target to increase its market share in India. Volvo, which sold over 800 units last year, is planning to launch two other models — the S60 and XC 60, in October this year. "Volvo struggled over how to succeed in India but now we are the fastest growing luxury car makers here and we continue to see that in future too," Tomas Ernberg, managing director of Volvo Auto India, said. Priced at Rs 28.5 lakh (ex showroom, Delhi), the company is targeting the new model to contribute 15-20% of its total sales this year. With three new launches this year, Volvo India is targeting its annual sales to increase from the current over 800 units to around 1000 units. Volvo is targeting sales of 120 units of V40 Cross Country this year to over 240 units in calendar year 2014. Worldwide, the company is targeting sales of over 30,000 units for the model this year. In an attempt to increase its market share in India, the company is also betting on increasing its dealership network to boost sales. Up from seven dealers in 2012, Volvo India is planning to increase the number to 11 by the year-end, establishing its presence in major cities such as Bangalore, Ahmedabad and Gurgaon. From a market share of 3% in 2012, the company is banking on the new models to ensure a 4% share in the luxury car market by the year-end, and over 15% in the next few years. "The German car makers advertize like crazy...we are smaller players and we are only betting on volume growth," Ernberg said, voicing his concerns over competition with rivals. The company, which imports most of its products from Europe and Belgium, is not planning on assembly of cars in India, owing to the cost pressures. Currently, US, China and Sweden continue to be the biggest markets for the company. The company's Indian arm Volvo Auto India has also tied up with Bajaj Allianz for vehicle insurance in the country. via Technology - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFUxbbw2HE0UTcYTtpPQQMw6EIbbA&url=http://timesofindia.indiatimes.com/business/india-business/Volvo-rolls-out-V40-Cross-Country-at-Rs-28-5-lakh/articleshow/20599008.cms

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