Volvo Car Corp. announces it will begin selling vehicles in India through a new subsidiary, Volvo Car India.
Sales will begin in the year’s fourth quarter, Volvo says.
Volvo India will be based in Delhi and offer the S80 sedan and XC90 cross/utility vehicle to the Indian market. Other models will follow in “due course,” the auto maker says.
“It is an important step for Volvo Cars to establish a presence on this market at a time when India is showing considerable growth in the passenger-car market,” President and CEO Fredrik Arp says.
“Moreover, we believe that the timing is right in comparison with our closest competitors.”
India is among the fastest-growing automotive markets in the world, with new-car sales expected to increase from 1 million to 1.6 million units annually over the next four years, Volvo says.
Plans call for Volvo India to establish three dealerships this year.