Volvo rolls out first ‘Made In India’ car in Bengaluru
KalingaTV News Network
Bengaluru: Swedish luxury auto maker Volvo rolled out its first ‘Made in India’ car assembled at its plant here on Tuesday.
Volvo rolled out the first luxurious XC90 model car as per its earlier plan.
With India showing huge potential for luxury cars, the European auto major has decided to assemble more models based on its SPA modular vehicle architecture.
The company sells 10 luxury models spanning sporty sedan, cross-country, all- road and all-weather sedan, a performance sedan and a hatchback. The passenger car subsidiary works with the Volvo Group India which makes trucks, buses, construction equipment and Penta engines at its plant near Bengaluru.
The company is aiming to double its share to 10 per cent by 2020 from 5 per cent currently.
According to reports, Volvo, which had a robust 32 per cent growth in sales volumes in the last two years, now plans to sell 2,000 cars this year to register a 25 per cent annual growth.