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Volvo India, Eicher venture looks to pump up sales
Volvo India is considering launching its financial services arm for its customers even as it has set a target of selling 1 lakh trucks by 2015, which will take its market share to about 15 per cent in the country.
Volvo India is considering launching its financial services arm for its customers even as it has set a target of selling 1 lakh trucks by 2015, which will take its market share to about 15 per cent in the country.
The Volvo India Managing Director, Mr Eric Leblanc, told newspersons on the occasion of the tenth anniversary of Volvo in India that with the setting up of the new joint venture with Eicher , Volvo expects to increase the sale of its trucks to about 1 lakh units a year by 2015. Volvo during the last 10 years of its existence in India has sold about 5,000 trucks and exported 1,000 more, mostly to South Korea. It has also sold about 2,000 buses so far.
Mr Leblanc said when the joint venture starts operating sometime in October, the company would have invested about $225 million - which would be available for product development as well as for expansion of the Eicher's Pitampura plant. He pointed out that Eicher has about 3 per cent share in the heavy duty commercial vehicles market and about 27 per cent share in the light and medium and hence the focus will be on increasing penetration of the heavy duty trucks in the 16 tonne-49 tonne category.
The Volvo India Managing Director, Mr Eric Leblanc, told newspersons on the occasion of the tenth anniversary of Volvo in India that with the setting up of the new joint venture with 
