Swedish car maker Volvo has targeted a 10% market share in the luxury car segment in India by 2020, and has plans to introduce 4 new car models in the country reports DNA.
“We have grown quite a bit last year and want to continue that growth. We grew 30% and sold 1,200 units,” said Volvo Auto India managing director Tom von Bonsdorff while inaugurating the company’s first dealership in New Delhi. “We are targeting at 10% segment share. Currently we have 4.5% segment share and with the upcoming launches and expanding dealership, the target can be achieved. India is one of the fastest growing markets for Volvo,” he added.
Bonsdorff stated that the company wanted to be on par with their German competitors, both in pricing and brand value besides improving their products to be more human-centric and safe.
