Volvo double its market share despite bad days
Mumbai: Swedish luxury car maker Volvo plans to double its market share in India by next year. The industry expects 2019 to be a “tougher” year due to the forthcoming elections and other industry factors.
The company has emerged as the fastest growing luxury car maker industry with a vrooming 30 percent volume growth in 2018. The company was aiming to double market share by 2020. The company said that “If we can repeat our performance in 2019, we will be very happy.”
In 2018, the company’s market share stood around 7 percent. The luxury car market is dominated by the German players like Mercedes followed by BMW and Audi.
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Volvo India’s product portfolio includes the XC90, XC60 and XC40 range of SUVs, the S60, S60 Cross Country and the S90 sedans, and the V40 and V40 Cross Country hatchbacks, besides the station wagon V90.