Auto: The Indian Automobiles market is one of the growing and big markets for any automobile manufacturers of the world. Swedish car manufacturer Volvo is currently working its portfolio by adding new 40 series cars. The company recently unveiled the Concept 40.1 and Concept 40.2. These models will come in India after its launch in the International market by the end of 2017.
Volvo India expects potential growth in the entry level premium car segment in India. The Volvo XC40 will compete against the BMW X1, Mercedes GLA and Audi Q2. The new small car range of Volvo will include a full electric vehicle as well as twin engine plug-in hybrid powertrain variants.
Entry-level luxury cars from German manufacturers are priced upwards of Rs 26 lakh in the Indian market. "Entry SUVs are extremely important for a market like India," said Peter Mertens, senior vice-president for research & development. "We are seeing a lot of growth coming in from the segment in BRIC (Brazil, Russia, India and China) countries.”