Swedish luxury carmaker Volvo Auto India is all set to sell 200 cars in Bangalore this year, in a bid to cater to the demand for luxury cars in the city.
Volvo which entered the Indian market in 2007 has been selling cars in Mumbai, New Delhi, Pune and Hyderabad. The company is now planning to target the Bangalore market, which has a potential demand for luxury cars, thanks to the IT boom in the city.
Volvo will introduce four high-end luxury cars - two SUVs and two sedans - that would join the race against rivals like BMW and Audi. The cost of the Volvo cars would be anywhere between ₹35-₹67 lakh each.
As a first step, the company will open a large showroom in the city. "Entering Bangalore signifies our presence in the key market for luxury cars in India. After successful presence in other regions in India, we plan to consolidate our presence in Bangalore by opening a 7,000 square feet showroom here," Tomas Ernberg, managing director, Volva Cars, told DNA news agency.
Volvo has announced "Martial Motors Private Ltd" as their dealer in Bangalore. With the entry into the Bangalore market, the automaker is now looking forward to increase their annual sales in India to 20,000 units in five years. They sold 821 cars in 2012 across India, which is quite higher than the previous year when they sold 321 units. In 2012, the overall sale of luxury cars was 28,000, but this year around 33,000 cars are expected to be sold.
Volvo is now targeting a 35 percent growth in 2013 by achieving their sale of 1,200 units. They are also planning to introduce car services for every 100 km, in Tamil Nadu by the end of next year.