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Volvo Makes Move into India

Jul 7 2006

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Volvo Car Corporation has announced that it will begin selling the XC90 and S80 models in the fast-growing India market by the end of 2006 or early 2007.

Although it launches with a modest sales forecast of fewer than 1,000 vehicles for that period, Volvo will be competing in the premium segment against Mercedes-Benz, BMW and Volkswagen.

The vehicles will be produced at Volvo's Torslanda plant in Sweden. The company has no immediate plans for production in India.

India is experiencing very favorable economic growth with low inflation and a stable currency. Total new-car sales on the Indian market are expected to increase from 1 million cars per year to 1.6 million over the next four years. "This gives us an excellent foundation for starting sales of Volvo cars on this market," says Volvo Car India's Managing Director Paul de Voijs.

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