Slowing down European economy has made Swedish automaker Volvo shift its focus to Asian markets. At present, China and Japan are the leading market for Volvo luxury cars.
Volvo Auto India Managing Director Tomas Ernberg said: “European markets aren't showing signs of immediate recovery from global economic slowdown. And, so we have shifted our focus to Asian markets, specially China and India." He also added, "India can become one of the leading markets for luxury cars and so, our focus is on driving sales here."
Thomas Andersson, Volvo Cars, Vice-President, International said that V40 will launch across country this year, sales volume of which has already touched 5,000 units in European market. However, price has not been disclosed.
Ernberg said, "We sold 820 units in 2012 and 320 units the year before. But, in the first three months of 2013, we have already sold 1,100 units, more than what we sold in the last two years."
Volvo’s first dealership is opened in Ahmedabad spreading over 3,500 sq ft, planning to launch two more, one in Surat next year and another in Rajkot in 2015, to increase sales. Three more dealership are likely to open in Kolkata, Mumbai and Delhi by the end of 2013.
Volvo Auto India offers four auto products in India – S60, S80, XC60 and XC90.