April 15, 2024

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Volvo India looks to assemble all its models locally from next year, Auto News, ET Auto

Volvo Car India assembles three models – SUVs XC60 and XC90, and sedan S90 – locally at its facility near Bengaluru, Karnataka.
Volvo Vehicle India assembles three styles – SUVs XC60 and XC90, and sedan S90 – locally at its facility near Bengaluru, Karnataka.

The Indian unit of Swedish carmaker Volvo will assemble all its vehicles in India setting up next year, in line with the government’s ‘Make-in-India’ initiative to broaden its existence in the luxurious motor vehicle market place in the place.

“Our profits this year will be decreased than 2019. But we be expecting to continue to obtain market place share,” Volvo Vehicle India handling director Charles Frump told ET. “Next year onwards we will assemble all our styles locally, be in a very good place.” Frump reported the shift to locally assemble all vehicles it sells in the place will entail supplemental expenditure but he did not share the details.

At existing, Volvo Vehicle India assembles three styles – SUVs XC60 and XC90, and sedan S90 – locally at its facility near Bengaluru, Karnataka.

Frump reported the business has witnessed a steady revival in profits publish the Covid-induced lockdown and expects need to return to ordinary during the festive period of time later on this year.

“In May well, we were being operating at 25% capacity, which increased to 50% in June. We were being brief only by seven units in July. Consumer need also has improved. The momentum in August is very good, we are hoping to weigh how a lot of this is pent-up need vs . genuine need,” Frump reported. While Volvo is going through some brief-time period problems subsequent the Covid pandemic, there is no adjust in the company’s extensive-time period tactic to produce the market place in India.

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