Riding on the slew of launches Volvo has done in India, the brand aims to grab 10% market share in luxury cars segment of India by the year 2020.
If there’s one brand which has wonderful cars in the lineup and is yet struggling for sales in India, it is Volvo. The Swedish brand entered India quite some time ago but the sales figures have not been too high. Yes, the figures have been rising on a year to year basis yet it is not good enough. This can be mainly attributed to the low number of dealerships of the brand in India which is changing now though. Combine that with the love of Indians for snob value when spending so much on a car and you understand why the German rivals are way ahead in the figure game.
However, the low figures haven’t made Volvo give up on India. They are on offensive mode now and have already launched three cars in India this year. New dealerships would be coming up soon taking the total number close to twenty by the year end. In order to give the best quality products to the customers, all the cars are CBU imports. While the pricing is a bit higher due to them being CBU’s, most of the cars in the portfolio are priced on par or below the competition and are loaded with gizmos. What Volvo is known for is safety and this is where all its cars trump the rivals hands down.
Volvo sold 1202 last year and aims to sell 2000 cars this year which we think is easily achievable considering the rising demand of luxury cars and the new vehicles launched by the Swedish brand. What the brand needs to do is market their products well and offer an unmatched experience to the customers. Word of mouth publicity works wonders in this segment and a satisfied customer brings many more customers. From a market share of 3.5% in 2014, the automaker aims to take it to 10% by 2020.