Volvo to launch small car in India in 2013

Swedish car maker Volvo is targeting a higher share of the luxury car market and plans to launch smaller cars to tap the growing luxury car market. Volvo Auto is now getting aggressive and has a small car by January-March 2013 for the Indian market.

Expected to be priced in the Rs. 20-22 lakh price range, the new small car (V40) will be unveiled at the Geneva Motor Show next month. The new V40 is based on the S40 platform and is likely to compete with Mercedes-Benz’s B-Class which will also see a 2013 launch in India.

Volvo is targeting a 15% share of the Indian luxury car market and sales of 20,000 units by 2020. To increase sales further the company has doubled its marketing budget and is planning to expand its network form next year.

Volvo recently launched the lower priced variants of the S60, S80 and XC60. These variants are equipped with the de-tuned D5 engine is now called the D3 engine which boasts a impressive power of 163 bhp and 400 Nm of Torque.