Volvo plans to compete in small car market

Volvo Auto India Pvt. Ltd., which up until recently had been a marginal player in the Indian luxury car market, has unveiled aggressive plans for the small car market. It is planning to roll out a small car in March 2012, aside from the cheaper versions of existing models that it recently launched in the country. Volvo Auto is a Swedish auto maker owned by Zhejiang Geely Holding Group. The new small car, V40, is scheduled for a global launch at the Geneva Motor Show in March 2012. “There will be two global launches this year, of which one – a small vehicle – will come to India. The small car space is necessary for us to gain volumes,” said Tomas Ernberg, managing director of Volvo Auto India Pvt. Ltd. (February 17, 2012)