50 Manufacturing Companies – Volvo India

Volvo Trucks has been in India for more than 20 years. At present, it operates its business with its joint venture partner VECV. The company is active in the premium European segment, particularly in mining where it has approximately 80% market share; last year it sold approximately 1,200 vehicles.
Volvo Group sees potential to grow its business by using the good image and reputation it has in mining to expand into new areas like construction and long-haul. It has already made some headway in construction with some key customers, who have bagged some large projects. The premium truck segment in India is small but shows potential. Customers in this segment generally want a truck that is durable, fuel efficient and offers the best TCO (total cost of ownership).
The premium segment in India is about 1,500 units annually. Volvo offers the Volvo FMX and Volvo FM models in India. The Volvo FMX 8X4 is intended for mining operations while the FM 6×4 is fit for heavy haulage applications. The company also plans to introduce newer models that are specifically designed keeping Indian road construction in mind.
In India, there is still a focus on the sticker price but increasingly it is seeing that haulage operators are concerned with the total cost of a vehicle over its entire lifecycle.