tomas ernberg

Citing the growing positive perspective for luxury goods in India, Swedish luxury car maker Volvo's Indian unit Volvo Auto India on Wednesday said it is targeting 4.5% of the country's luxury car market this calendar year.

India's car market may be stuck in first gear with barely 1-3% growth expected this financial year but the luxury end of the industry seems to be bucking the trend. According to a top auto industry official.

Swedish luxury carmaker Volvo Auto India (VAI) today said it plans to sell 2,000 cars this year in the country as against 1,200 units in 2014.

The Swedish luxury carmaker Volvo hopes to sell around 400 units of its latest sports utility vehicle XC90 by December and close the year with around 66 per cent rise in overall sales.

Volvo, the Swedish luxury car-maker now owned by Chinese maker Geely, is looking to increase its stake in India.

Volvo Auto India (VAI), the Indian unit of Swedish luxury car maker, will launch its new model V40 Cross Country in the country towards the end of the first quarter of the next fiscal year.

Swedish car maker Volvo Auto India rocked the Kenwood God's Own Car & Bike Awards 2014 night by bagging three coveted awards.

Swedish automaker Volvo, which has carved out a niche for itself in the premium bus segment but didn't do too well with its car brand, is now planning to focus on the luxury car market, and even toying with the idea of setting up local assembly operations.

Volvo Auto India is the official car partner for Aircel Chennai Open 2013. Matches held from 31st December 2012 to 6th January 2013 will be played with the Volvo S60 holding prime position.

Volvo, which sold over 800 units last year, is planning to launch two other models — the S60 and XC 60, in October this year.

Volvo Auto India recently launched its latest Scandinavian beauty – the V40 Cross Country – in its brand new Gurgaon showroom, Swede Auto. Golfer Jeev Milkha Singh was present at the launch, along with models Sapna Kumar and Lakshmi Rana.

As India looks to sign a free-trade agreement with the European Union, investments in the automobile sector appear to be drying up as companies tighten purse strings on hopes of import duty going lower, enabling them to ship cars at a lower cost from Europe rather than make them in India.

In India since 2007, Volvo's future strategy was always fluid with its erstwhile owner Ford selling off the company.

Watching the Indian luxury car market from the back seat for a long time, Swedish carmaker Volvo Auto India is now taking the wheel. In all likelihood, the Detroit of East – Sanand near Ahmedabad – may play host.

Swedish luxury carmaker Volvo on Friday launched its compact crossover vehicle V40 'Cross Country' priced at Rs 28.5 lakh (ex-showroom Delhi) as part of plans to increase sales in India by around 50% this year to about 1,200 units.

Volvo has launched a petrol powered version of the V40 Cross Country hatchback in India at a price of Rs 27 lakh (ex-showroom Mumbai, before octroi).

Volvo Auto India on Wednesday unveiled the next generation S60 & XC60 at Swedish Embassy in Delhi.