<p class="title">Swedish automaker Volvo Cars plans to locally assemble two more models -- XC 60 and V 90 Cross Country -- in India to strengthen business in the country.</p>.<p class="bodytext">It currently assembles XC 90 and S 90 models at the Bengaluru-based manufacturing plant.</p>.<p class="bodytext">The company is also in the final stages of opening a parts warehouse in India to help it supply spares to dealers at a faster clip.</p>.<p class="bodytext">"We are looking by mid-year for some addition of SPA (platform) cars in India," Volvo Car India Managing Director Charles Frump said.</p>.<p class="bodytext">The cars on SPA platform, which are yet to be localised in India are V90 Cross Country and XC 60, he added.</p>.<p class="bodytext">Volvo Cars began local assembly of XC 90 model from Bangalore plant in October last year. This month it started local assembly of S 90 model from the facility.</p>.<p class="bodytext">Both, the models are also based on the company's scalable SPA platform.</p>.<p class="bodytext">With an aim to enhance speedy parts supplies to service centre, Frump said the company will be investing in central parts warehouse in India and expand Bangalore plant as well.</p>.<p class="bodytext">"Overnight we can get parts to all our dealerships instead of getting them shipped from Sweden. Its a huge advantage," he added.</p>.<p class="bodytext">He, however, did not share location and investment details about the project.</p>.<p class="bodytext">When asked about new launches he said the company would drive in XC 40 model in India by July-August this year.</p>.<p class="bodytext">"The biggest gap that we have here (India portfolio) is that we don't have a small SUV and XC 40 fills that gap," Frump said.</p>.<p class="bodytext">Volvo Cars also plans to expand its sales network in India with plans to open one dealership every month this year.</p>.<p class="bodytext">"Right now we have 21 dealerships and we will get to 29 stores by the end of this year. So that will give us full coverage of India," Frump said.</p>.<p class="bodytext">Volvo has been able to position itself in India as a clear alternative to German companies such as Mercedes-Benz, BMW and Audi, he claimed.</p>.<p class="bodytext">"People who have owned a German car have now also started looking at us for their second car," Frump said.</p>.<p class="bodytext">With enhanced product portfolio and sales network the company aims maintain double digit sales growth this year as well in the country.</p>.<p class="bodytext">Volvo Cars India sold around 2,000 units last year. Sales grew by 28% in 2017 compared with 2016.</p>.<p class="bodytext">In India, the company has set an aim of garnering a market share of 10% in the luxury segment by 2020. It currently has over 5% share in the segment which is pegged at around 40,000 units per annum.</p>.<p class="bodytext">Globally, the company sold a total of 5.71 lakh units last year.</p>
<p class="title">Swedish automaker Volvo Cars plans to locally assemble two more models -- XC 60 and V 90 Cross Country -- in India to strengthen business in the country.</p>.<p class="bodytext">It currently assembles XC 90 and S 90 models at the Bengaluru-based manufacturing plant.</p>.<p class="bodytext">The company is also in the final stages of opening a parts warehouse in India to help it supply spares to dealers at a faster clip.</p>.<p class="bodytext">"We are looking by mid-year for some addition of SPA (platform) cars in India," Volvo Car India Managing Director Charles Frump said.</p>.<p class="bodytext">The cars on SPA platform, which are yet to be localised in India are V90 Cross Country and XC 60, he added.</p>.<p class="bodytext">Volvo Cars began local assembly of XC 90 model from Bangalore plant in October last year. This month it started local assembly of S 90 model from the facility.</p>.<p class="bodytext">Both, the models are also based on the company's scalable SPA platform.</p>.<p class="bodytext">With an aim to enhance speedy parts supplies to service centre, Frump said the company will be investing in central parts warehouse in India and expand Bangalore plant as well.</p>.<p class="bodytext">"Overnight we can get parts to all our dealerships instead of getting them shipped from Sweden. Its a huge advantage," he added.</p>.<p class="bodytext">He, however, did not share location and investment details about the project.</p>.<p class="bodytext">When asked about new launches he said the company would drive in XC 40 model in India by July-August this year.</p>.<p class="bodytext">"The biggest gap that we have here (India portfolio) is that we don't have a small SUV and XC 40 fills that gap," Frump said.</p>.<p class="bodytext">Volvo Cars also plans to expand its sales network in India with plans to open one dealership every month this year.</p>.<p class="bodytext">"Right now we have 21 dealerships and we will get to 29 stores by the end of this year. So that will give us full coverage of India," Frump said.</p>.<p class="bodytext">Volvo has been able to position itself in India as a clear alternative to German companies such as Mercedes-Benz, BMW and Audi, he claimed.</p>.<p class="bodytext">"People who have owned a German car have now also started looking at us for their second car," Frump said.</p>.<p class="bodytext">With enhanced product portfolio and sales network the company aims maintain double digit sales growth this year as well in the country.</p>.<p class="bodytext">Volvo Cars India sold around 2,000 units last year. Sales grew by 28% in 2017 compared with 2016.</p>.<p class="bodytext">In India, the company has set an aim of garnering a market share of 10% in the luxury segment by 2020. It currently has over 5% share in the segment which is pegged at around 40,000 units per annum.</p>.<p class="bodytext">Globally, the company sold a total of 5.71 lakh units last year.</p>