Swedish luxury carmaker Volvo plans to roll out some more global models into the India market during the course of the year depending on the demand from customers.

“We have been a relatively late entrant into the Indian automotive market, which has become one of the fastest growing in the world and possibly heading to be amongst the top three markets globally by 2020. We plan to ride on this growth story,” Mr Paul de Voijs, Managing Director of Volvo Auto India, said.

Over 100 bookings

Speaking to newspersons here on Wednesday after introducing their latest offering in the Indian market, the Volvo S60 sedan, Mr Voijs said, “the company has received excellent response since its introduction with over 100 bookings. We are booked till May. It is heartening to note that the discerning customers do not mind the wait to get the car of their choice.”

“The market for luxury cars in India is relatively small compared with 2.2 million cars sold overall last year at about 0.7 per cent. But this number will grow over the next few years. Along with China, India is amongst the most focussed countries in the region. It may mean small numbers now, but it won't be long before the numbers go up,” he said.

Asked about the ongoing talks with regard to Free Trade Agreement between the EU and India, Mr Voijs said “automotives do not form part of the discussions. But if they are included it would be good for buyers in India as this could mean lower duty. Duty is about 60 per cent now.”

The company currently has seven dealerships and plans to add five more by December.

These dealerships will come up at Chennai, Bangalore, Kolkata, Jaipur and Ahmedabad. Apart from the metros, Jaipur and Ahmedabad look very promising, he said.

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