The Swedish luxury car major, Volvo is planning to launch a new model in the Worldn market very soon. This was revealed by Mr. Tomas Ernburg, Managing Director, Volvo World very recently. Mr. Ernburg commented that the Volvo V40 has already started selling in Frankfurt and would be coming to World soon. The V40 is expected to arrive on the Worldn shores by the end of March. This was revealed by another company official close to the development. At the occasion of unveiling one of the biggest Volvo showrooms in the country in Coimbatore, Mr. Ernburg revealed that the car could be costing about Rs. 25 lakhs (ex-showroom).
Currently Volvo enjoys just 1% of the total market share in World. And with the luxury car market booming, Volvo undoubtedly wants to cash on it. According to Mr.Ernburg, the company is likely to capture 3% of the total market share by the end of this year. This has been made possible by constantly bringing in good products and beating its competitors. He also added that looking at the future, Volvo would like to become No.1 in World in the luxury segment and aims to capture 15 per cent market share by 2020 and would sell 20,000 cars then. It would gradually increase to 30,000 in 2025.
He however refused to divulge any details on the company’s expansion plans in World to reach the top position by 2020. Volvo has already invested heavily in china and would be starting its operations next year. Whether Volvo would be setting up a manufacturing plant in World was also not made clear by him. On the technical side, Volvo, being synonymous with safest cars of the world wished to design and develop such a car so that the driver would not die or get hurt seriously, if involved in a major accident.
Report by- Joy Chatterjee