Swedish automobile manufacture Volvo’s Indian subsidiary Volvo Auto India Private Limited is targeting 15 percent share of the luxury car segment in India by the year 2020. The company plans to increase its presence in the Indian car industry by launching new car models in India.
According to Mr. Tomas Ernberg Managing Director Volvo Auto India, the company aims to sell more than 1,000 cars in India in the 2012-13 fiscal as compared to 320 cars in 2011-12. He added that projections show that the sales in Indian luxury car market by the year 2020 would be around 1,50,000 units and the company is targeting to sell 20,000 cars out of those.
In order to meet its targets, the company plans to expand its presence in the Indian car market by increasing the number of showrooms from 8 to 16 and the number of dealerships from 7 to about 14-16 by the end of 2013.
