Volvo eyes the popular car segment
Volvo the luxury car makers have decided to put away the premium title and are looking forward to capture the growing auto segment. As per the reports, Volvo in its newly formed strategy is planning to shift its focus on the popular car segment. Volvo is working on the new strategy for sustaining in the auto industry. The company wishes to explore the growing market in terms of profits. Stefan Jacoby, the Volvo head said that, 'Premium' is not the current focus as the company plans to deviate from the expensive car strategy.
The company wishes to explore on its own Scandinavian method. He also said that, the company does not want to replicate its competitors. Jacob is out in public, expressing his views on Geely's strategy for the luxury car maker, Volvo.
As per the reports in the auto industry, Volvo is mulling over to adopt the new strategy rather than Geely's plan. The company's management wants to spread Volvo around world as a popular brand rather than the premium car brand.
Geely Li Shifu, President, Volvo, in a statement said that, Volvo is known as premium car maker which is a definition of luxury and comfort. The Volvo cars give competition to the likes such as BMW 7 series and Mercedes S class.
As per the strategy crafted by Jacoby, he plans a sale of 800,000 units every year by 2020, which is double the sale of 380,000 Volvo cars speculated to roll out in the auto market in 2010. He continued saying that the company hopes to strengthen Volvo's name in the US auto market. It will play a vital part in the company's expansion plan.
In India, Volvo is a premium car maker with one of the most expensive range of cars affixed with high end technology and luxury at par. The luxury brand rules India with premium sedan Volvo S80, the recently launched Volvo XC 60 and Volvo XC 90. Looking at the high rise in demand for the premium SUVs, Volvo recently launched its super luxury and technologically advanced Volvo XC60. To own this luxury on wheels, car aficionados need to shell Rs 39.5 lacs (ex-showroom, New Delhi). The car was which is loaded with comfort and safety features was launched in Lavasa near Pune, Maharashtra.
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