Volvo to showcase two new models in Ocean Race

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Kochi, Oct 4 (UNI) Volvo Car India, which launched its India operations in September last year with two models, planned to showcase two more models during the Kochi stopover of the Volvo Ocean Race in December, 2008, the company Managing Director Paul de Voijs said today.

Talking to newspersons here, Mr de Voijs said the Volvo V70 and XC70 will be showcased at the Volvo pavilion in the race village alongwith Volvo XC90 SUV, which was launched in India in September last year alongwith the luxury Sedan S80.

Sounding extremely bullish about the growth of the luxury car segment in India, Mr de Voijs said Volvo India had sold about 100 units since November last year and was hoping to touch 500 in its first year of operations.

The company's dealership would be expanded to five from three by the year-end with Hyderabad and Kochi being added to the existing dealerships in Delhi, Mumbai and Chandigarh.

Stating that the company did not have any immediate plans to start a plant in India, Mr de Voijs said things may change, if there was a change in the duty structure. The cars were presently being imported as completely built units from the Volvo plants in Sweden and Belgium.

On the rupee appreciation, he said the company had absorbed the hike instead of passing it on to the customers.

Disagreeing that Volvo had been late in coming to India, Mr De Voijs said only three or four luxury car makers had so far entered the Indian market and there was good potential for new entrants.

The price of the Volvo vehicles available in India range from Rs 38 lakh to Rs 52 lakh.

UNI ARC KVV 1505

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