India: Volvo is up to introducing new models

Press Trust of India - With 200% growth rate registered in the Indian car market, Volvo Auto India would not be behind any car manufacturer across the world to introduce newer models according to demand, including electric car, a top company official said today.

Replying to a specific question on electric car, on the sidelines of the launch of compact luxury SUV Volvo XC 60 and Volvo S60 luxury sedan here, Paul de Voijs, Managing Director, Volvo Auto India, told reporters that there was clear possibility that the company would introduce newer model, whether it was electric or any other variant across the world.

Stating that the company, which was selling its four premium models in India, has registered 200% growth in the country, compared to 35% growth rate of automobile industry, Voijs said with the introduction of these two variants, it wanted to maintain the tempo of the growth rate.

Moreover, Volvo Auto India, with its market share of three% in a short span of three years, has sold about 30 to 40 vehicles in the first four months in India, which reflected the market sentiments for the vehicles in the country, he said.

However, the company has no plans to start a manufacturing plant in India, as it needed huge investment and also orders for huge volume, he said.

Volvo XC60 is priced at Rs 39.5 lakh and Volvo S60 starting at Rs 27 lakh, both ex-showroom Coimbatore, while Volvo S60 was available in 'D5 summum' for Rs 32 lakh and 'T6 Summum' for Rs 34 lakh, Voijs said.