Auto major, Volvo Auto India intends to introduce less costly variants of their models, as they hope to increase their sales volume in a market where competitors like Mercedes, Audi and BMW are seeing growth in their premium car sales.
The newly appointed MD of the company, Tomas Ernberg, said that they may consider doing away with some features so that their models can be more competitively priced.
Currently in India, Volvo does not manufacturer any cars. Their present product portfolio includes a variety of imported products, which make them expensive when compared to their competitors. Volvo cars are available in a price ranging between INR 38 lakhs to INR 55 lakhs. Moreover, India also has a high import duty of 110% that makes it unviable to price their models competitively.
Stripped down versions of Volvo cars will help to bring down their prices as well as compete with their rivals like Audi, Mercedes and BMW. Many German premium car brands have their assembly operations for most of their models in India. They also offer exclusive limited editions priced competitively for luring more customers.
