MUMBAI – Volvo Car India’s launch this month of the new S60 sports sedan is a game-changer for the Swedish auto maker. Last year, in this 15,000-unit luxury-car market, Volvo sold just 130 light vehicles. But the company, now owned by China-based Zhejiang Geely is looking toward the future with more ambition. And with good reason. Analysts say India’s luxury-car market is small but tough and expanding briskly. Some believe the number of individuals in the country who can afford to buy ...

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