Volvo Auto India Pvt Ltd will launch its small car, V40, in June this year.
The C-segment, hatchback is the smallest Volvo product whose 50,000 units are currently sold across the world, said Tomas Ernberg, Managing Director, on Wednesday.
The company had sold 820 cars last year and expects to increase the number to 1,100 this year, he told presspersons after launching a dealership here.
The price of V40 in India is yet to be decided.
The Swedish company has two manufacturing plants in Sweden and Belgium. Volvo is now focusing on Asia which accounts for 15-20% share of its sales whose top two markets are the US and Japan. The company’s sales figure in China is 50,000 units, where Volvo will commence production this year. There are no plans for a manufacturing plant in India, he said.
About the luxury car market in India, Ernberg said this is expected to increase from 28,000 to 31,000 units per annum.
Apart from Ahmedabad, Volvo plans to open dealership in Kolkata, Mumbai and New Delhi besides Surat and Rajkot in the next few months. In all, it has 12 dealerships in India.