The Swedish car maker Volvo has begun assembling its cars in India, the first car to be assembled in India is the XC90 SUV at its operations in Bengaluru. Volvo had announced earlier in May this year that it would be starting rolling out India assembled cars for claiming its 10% share from the Indian market by the end of 2020.
Volvo India has its India operations on the outskirts of Bengaluru and will focus on assembling the car models based on the SPA vehicle architecture. This Volvo Group operation is shared by Volvo cars along with Volvo Trucks, construction equipment and Penta engines manufacturer.
Charles Frump, the newly appointed Managing Director for Volvo Auto India was delighted with this feat and said “It’s a moment of great pride for all of us at Volvo Cars. The roll-out of first locally assembled Volvo Car speaks volumes for the company’s commitment to grow further in India. The last three years have been good for us in India and we noticed a positive and encouraging growth in terms of increased segment share, world-class product and new dealer appointments.With global standards in quality, we are a formidable luxury car company in India and on-track to gain a bigger share of the segment.”
Volvo currently has a segment share of about 5% and aims to double this by 2020. Volvo Cars in India have had a robust 32% growth in sales volumes in the past two years and the 2017 trend is as per our plan to achieve 2000 cars, which will witness a growth of 25% year-on-year.
Volvo Auto India currently sells a range of luxury models, including V40 luxury hatchback, S60 sedan and S60 Cross Country, S60 Polestar, XC90 SUV, V90 Cross Country.