Volvo India, the Indian arm of the Swedish automobile manufacturer Volvo is planning to launch the V40-Cross Country car model by the end of March 2013. The new car model to be launched in India is already sold in Germany. The Indian car market is viewed by the company as a potential market, stated Mr. Tomas Ernburg Managing Director Volvo India.
Mr. Ernburg stated that the price of the new car model is likely to be around Rs 25,00,000 (Ex-showroom). Commenting about the growth of the company, he added that the company currently holds about 1 percent of the market share and expects to grow to 3 percent by the end of the year 2012. He further stated that the company’s growth target is to capture 15 percent of the market share by the year 2020, selling about 20,000 cars annually and gradually increasing the number to 30,000 by 2025.
Volvo functions with a vision to develop a car that would be the safest in the world and would prevent the driver from getting seriously hurt or die in a major accident.