Volvo

Volvo

Established in year 1927, Volvo is world's leading manufacturer and most global player of trucks, buses, cars, construction equipment, aero engines and engines for marine and industrial applications. The company has maintained a consistent focus in the transport and automotive vehicle industry. It has its production facilities in over 20 countries and sales all across the worldwide.

The company major focus market is India whereas intense efforts are being made in new markets in Asia. More than 40% of Volvo's workforce is employed outside Sweden and markets outside account for 90 per cent of the sales. Both quality and quantity wise, Volvo's entry into India coincides with the changing demands of the Indian economy.

It is the company belief that technologically aware India will make an ideal base for production and global sourcing. The company is one of the biggest producers of heavy commercial vehicles as their trucks are reputed for their performance, economy and are the flag bearers in their production activities in India. Major attention goes to the commercial transport sector and activities which act as underway to introduce buses and construction equipment.

For over 2 years, Volvo Penta Diesel engines have been selling in India and comprises an installation base of over 1000 units. The company render economical transport solutions in consonance with its values of safety, quality, and environmental care. On 15th Jun'98, company inducted its manufacturing facility for heavy commercial vehicles in Hoskote, near Bangalore.

Initial investment of Volvo is Rs 300 crore. Average gross vehicle weight of heavy commercial vehicle is over 16 tonnes. The unit has a capacity of 4000 units per annum, which it plans to achieve in the next 4-5 years. The company plans to generate its operations in India for their distribution systems and global production. Many vehicles, components and services of Volvo are sourced from India for assembly and application at an international scale.

Volvo group is the third largest heavy-duty truck manufacturer in the world. Apart from trucks, the company makes city buses, intercity buses and coaches which are sold in more than 130 countries. Volvo was the first company to manufacture cars with padded dashboards starting in late 1956 with their Amazon model. Volvo produces models ranging from SUVs, wagons, and sedans to compact executive sedans and coupes. The company market share is shrinking in the North American market while its market share is increased in new markets such as Russia, China and India.