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Volvo plans to double HCV sales - Views on News from Equitymaster
 
 
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  • Feb 23, 2000

    Volvo plans to double HCV sales

    Volvo India, plans to more than double sales of its multi-axle heavy vehicles to 500 units in the calendar year 2000.

    Volvo India P. Ltd. is the Indian subsidiary of Volvo, Sweden.

    Volvo sold 200 units of its multi-axle heavy vehicles in 1999, and believes it can clock sales of 500 units in the current calendar year. The company's Tippers models were launched in the eastern part of the country. This was reported by a leading financial daily.

    The company hopes to corner over 30% market share in the multi-axle heavy vehicles segment within a 10-15 years time frame. It is particularly optimistic about its Tippers model. The roll-out in east India is linked to the demand for heavy commercial vehicles in that region with the presence of freight-linked industries like cement and steel. The company also plans to launch buses within a period of two years.

    Volvo's plans for the Indian HCV market are rather ambitious. However, to the company's credit, it has undertaken steps to ensure that its passage in the country is smooth. To this end, it has focussed on critical aspects like fuel consumption, which is 50% lower than the average HCV. It has also ensured that its vehicles are relatively pollution-free (lower by 85%).

    Given Volvo's dominance in this segment at the global level, it has the experience and the technology to dominate the Indian market as well. It has already begun on a positive note.

    However, volume growth will stabilise at a certain level, after which the company will struggle to register sustained growth. Volvo's vehicles are priced on the higher side, which may not be a problem at present, but could prove disadvantageous in future as Tata Engineering becomes a serious competitor. Moreover, Volvo does not have an extensive distribution and spare parts network at present, unlike its competitors.

     

     

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