Luxury carmaker Volvo Auto Indiais aiming for 20-fold increase in its sales in India at 20,000 units per annum by 2020, for which it will drive in new models and enhance its service network.
The company, which today launched upgraded versions of its two top selling models in India --S60 and XC60 -- priced between Rs. 29.90 lakh and Rs. 46.55 lakh (ex-showroom Delhi), is targeting to sell 1,000 units in 2013.
"We are aiming to sell 20,000 units per annum in India by 2020. We plan to enhance our product portfolio as well as service network to achieve the desired results," Volvo Auto India Managing Director Tomas Ernberg told PTI.
Last year, the company had sold 811 units in the country. So far, it has sold a cumulative of 2,500 cars since it began selling cars in the country in 2007.
On expansion of service network, Ernberg said: "We are planning to have around 40 dealerships by 2020. By the end of this calender year, we will have 15 dealerships in India."
When asked if the company would introduce new models to achieve the sales target, Ernberg said: "We plan to have more models by then. We are investigating as which models would fit in the India market".
The company currently sells five models in the country, including the S60 and XC60.
Commenting on the sales projections for the current year, Ernberg said the company is looking to sell around 1,000 units in the calender year.
"S60 and XC60 models would represent roughly 75-80% of the sales. We are also looking to sell around 150-160 units of compact crossover vehicle V40 'Cross Country' during the year," he added.
The company has already sold around 650 units in the current year, Ernberg said.
When asked about the slowdown in the Indian car industry, Ernberg said: "It has been difficult in the past few months.
Negative sentiment is there. But we believe it is a short term phenomenon. In the long term, India presents a fabulous opportunity".
The new generation of S60 sedan would be retailed between Rs. 29.90 lakh and Rs. 35.50 lakh, the crossover SUV, XC60 has been priced between Rs. 40.50 lakh and Rs. 46.55 lakh (ex-showroom Delhi).
"We have focused on quality and attention to details in order to give these models a major boost and sharpen their competitiveness," Ernberg said.
He added that the company has been "listening very carefully to its customers" to make improvements and ensure that these cars are even more attractive.
The enhanced models will have various new features like laser-assisted automatic braking and digital instrument cluster with three modes.