XC40 with two more variants to drive Volvo’s growth in India

With the newly launched XC40, Swedish carmaker Volvo is longing for gaining the next achievement in terms of growth in India market. Initial response represents that Volvo could hit their target with the XC40. The SUV has garnered 200 bookings within a fortnight of launch.

Swedish carmaker Volvo is longing for gaining the next achievement in terms of growth in India market

In terms of the sales unit, the carmaker aims to reach the number of 3,000-unit sales mark for the calendar year 2018. This is up from 2,029 units in 2017, in which, the automaker hopes this increasing amount is mainly from the XC40, which launched at Rs 39.90 lakh (ex-showroom). 

The carmaker aims to reach the number of 3,000-unit sales mark for the calendar year 2018

In the short run, it has targeted 5,000 units by 2020. Volvo Cars India Managing Director Charles Frump said.

"It's a great beginning for us and we expect it to contribute considerably in achieving 10 per cent segment share by 2020."

He believes the time was right for Volvo to introduce the XC40, as the small SUV segment holds good growth potential, with sales of around 6,000 units a year. 
The brand has rolled out 700 units of the XC40 for India for this year. Richard Snijders, VP Asia-Pacific, Volvo Cars told Autocar India in an interview, said

 “We expect the initial allotment to sell out quickly. From next year I think we are likely to double the allocation. So we expect to sell around 100-150 cars per month. In a year, we will assemble the XC40 within India. The small SUV is the first car to be based on Volvo’s CMA platform”.

Currently, Volvo has assembled their cars based on the SPA platform – such as the XC90 and S90 – at its plant in Bengaluru and has confirmed that its mid-size SUV, the XC60, will also be assembled locally by the end of the July-September quarter.

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