Swedish automotive giants, Volvo, are in plans to launch their much awaited 'V40 Cross Country' in India by the end of March 2013.
With the growing importance of the luxury car segment in the sub-continent, Volvo are keen to cash in with this state-of-the-art crossover. As you will be aware regarding the scoop we carried of the V40 a couple of months back, it is now official. Addressing the media, Tomas Ernberg, MD Volvo Auto India, said, “It would introduce the V40 Cross Country by the end of March next year, though its price had not been finalized for the Indian market, it will be expected to be about Rs. 25 lakh mark.”
Volvo Auto have sold around 1,500 cars in India so far, which include about 800 cars delivered this year and come next year they are in plans to double the volume. The penetration of the luxury car segment in the Indian market is just a mere one per cent. This is expected to grow to approx three per cent by the year 2020. Volvo plans to sell around 20,000 cars and have 15 per cent share in the segment by 2020.
Mr. Ernberd added, “Volvo will have a presence in 12 cities in India by the end of December this year, and Volvo would focus more on smaller cities, come 2013.”