vegassports-odds.com
vegassports-odds.com November 18, 2017


Geely's Volvo Cars to start assembly operations in India this year

19 May 2017, 07:50 | Winifred Adams

Swedish carmaker Volvo said on Thursday it will start assembling cars in India this year in a move into a fast-expanding market where it has had only a small presence until now.

The Indian luxury auto market stood at around 34,000 units, down over 5 per cent from about 36,000 in 2015.

"It's a sign of the company's strong commitment in India". In establishing its assembly operations, Volvo Cars is working together with Volvo Group, the truck, bus and construction equipment manufacturer, and will make use of Volvo Group's existing infrastructure and production licenses.

Swedish luxury carmaker Volvo Cars on Thursday said the company would rollout its first India-assembled vehicle by the end of the year. The company is targeting to introduce the first locally built model in the Indian market by the end of this year. While the company is starting with local assembly right now, further localisation will depend on how quickly it adds on the local sales numbers. The first Volvo model to be assembled there is the XC90 premium SUV.

Trump Denies Asking Comey To Close Investigation on Flynn
Attorneys: Patrick Cotter , who served the Eastern District of NY ; and Renato Marrioti , who served the Northern District of IL . A former federal law enforcement official told NBC that Comey wrote a memo about almost every interaction with the president.

Times Square crash left one dead
The US Navy said Rojas served from September 2011 to May 2014, reaching the rank of electrician's mate fireman apprentice. Friend Harrison Ramos told reporters that Rojas hadn't been the same since he returned from active duty in the Navy.

Trump is on Putin's payroll : GOP Majority Leader in 2016
He said Wednesday that he had not taken offense at McCarthy's remark, which he also interpreted as a joke . McCarthy's comments drew some laughter, according to The Post , prompting him to add, " Swear to God ".

Volvo's announcement came as General Motors said it will stop selling cars in India, where it has less than a 1 percent share of passenger auto sales.

Though the Indian luxury market is small, it is forecast to grow rapidly in coming years to garner 10 per cent premium segment market share by 2020 from 5 per cent now.

Also, this is the second facility for Volvo Cars globally, after one in Malaysia, where knocked down vehicles are assembled. "Volvo Cars in India had a 32% growth in sales volumes in the past two years and the 2017 trend is as per our plan to achieve 2000 cars, this will give us a growth of 25% y-o-y", Bonsdorff added. "It's an arms length partnership in the Bengaluru plant", said Samuelsson.

GM's exports from India, mainly to Mexico and Latin America, almost doubled to 70,969 vehicles in the fiscal year than ended on March 31. "This is a good way to reduce our risk level in the country, as we are in line with Make in India", von Bonsdorff said. The contract manufacturing keeps investments in the assembly operations low and allows the company to be more aggressive in terms of margins and profitability in the Indian market.



Other News

Trending Now

Trump Asked FBI's Comey to Drop Flynn Inquiry
The explosive revelation by The New York Times followed a week of tumult at the White House after Trump fired Comey. President Donald Trump was about to get the question - the one he'd avoided for almost 48 hours but could no longer.

Warriors become just the 5th team to start NBA playoffs 10-0
Popovich had no guess about Leonard's status for Game 3 , saying it would likely be decided as late as Friday or Saturday. Spurs coach Gregg Popovich claimed the day after Game 1 that Pachulia's play was "dangerous" and "unsportsmanlike".

New Zealand optimistic of reviving TPP trade deal
Trade officials will be asked to work on an implementation plan at a Trade Ministers' meeting in Vietnam next week, which Trade Minister Todd McClay will co-chair.

Does US believe Western Wall is in Israel?
Since taking office, the White House has all but dropped the plan ahead of the President's first trip to Israel next week. It is time for the whole world to recognize Jerusalem as the official capital of the state of Israel.