Volvo Auto plans to launch its new car, “V40 Cross Country”, in India by the end of March 2013 .

Tomas Ernberg, Managing Director of Volvo Auto India, who was here to inaugurate a showroom, told The Hindu on Saturday that the company had four luxury car models in India now.

It would introduce the V40 Cross Country by the end of March next year. Though its price had not been finalised for the Indian market, it was expected to be about Rs. 25 lakh (ex-showroom).

Volvo Auto had sold 1,500 cars in India so far. This included about 800 cars delivered this year (2012). In 2013, it planned to double this volume.

The penetration of the luxury car segment in the market in India was just one per cent now. This was expected to grow to three per cent by 2020, by which time Volvo plans to sell 20,000 cars and have 15 per cent share in the segment.

The company would be present in 12 cities in the country by the end of December this year, he said. Of these, five were added in 2012. Two more would be added opened by June 2013. It would focus more on smaller cities, he said.

RELATED NEWS

Festive season, a mixed bag for auto unitsDecember 1, 2012

More In: Companies | Business