Chandigarh: Swedish carmaker Volvo Car Corporation expects to sell 10,000 cars in India by the year 2010 and also plans to introduce S40 - a small sedan in the domestic market in 2009.
“There is a possibility that we will be able to sell 10,000 units of our cars in the Indian market in view of the growth being witnessed by luxury and premium car segments in the country,” Volvo Car Corporation President (Overseas Operation) Peter Cornelis said here.
Volvo, which forayed into Indian market with the launch of its S80-sedan and XC90-SUV, observed that the domestic luxury car market that has been growing at 30 per cent would double by the year 2009 due to organic growth, upgrades and improved infrastructure.
Having introduced 10 models in the global market so far, Volvo is also keen on bringing a small sedan S40 to India as part of its strategy for increasing its footprint in this country.
“We find that S40, a small sedan, will be our next launch but it will only happen in early 2009,” he said.
Although Volvo considers India as an emerging market for luxury cars, it has experienced astronomical growth in Russia and China in respect of sales of premium cars.
Volvo posted 121 per cent growth in Russia year-on-year basis by selling 10,800 units last year and expects to sell 20,000 units this year. In China, Volvo has sold 7,500 units last year and hopes to double it this year, said Cornelis.
Besides, Volvo has also found Middle East, Brazil and Argentina as promising markets for luxury cars. “This year, we will strengthen our position in Middle East by appointing 5-10 more dealers,” he said.