Volvo India has set an aggressive target with an aim to capture 10 per cent market share in our country by 2020. The company also plans to double their sales this year.
Volvo managed to sell around 1,202 vehicles in India last year and the 2,000 units milestone doesn't seem to be a difficult target to achieve with such an aggressive plan. The company has launched three products for the Indian market this year and also plans to increase their dealer network numbers to 20 by the end of this year. So the sales target for this seems achievable, but a jump in market share from a current 3.5 per cent to 10 per cent seems a bit high looking at the current volumes.
Tom Von Bonsdorff, Managing Director, Volvo Auto India, said, "Economy in India is prosperous now. I hope it will boost sales for the premium car market also. This year we have set a target of double digit growth in India in terms of sales. Last year we delivered 1,200 cars. Our market share in the premium segment right now is 3.5 per cent. We are targeting 10 per cent market share by 2020."
We hope the company will bump the volumes in times to come and introduce more products for the Indian market. At present they sell the V40, V40 Cross Country, S60, S80, XC60 and XC90 in our country. These models will soon be joined with a few more new global models in the luxury car segment. With the addition of new dealerships and service centres, Volvo India will increase its foothold in our country and hopefully also increase its market share eventually.