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Thailand Volvo expects 30% sales growth

Thailand Volvo expects 30% sales growth

BANGKOK: Volvo Car (Thailand) remains hopeful for 2016 despite the company’s sluggish performance over the past three years. Managing director Anette Andersson said yesterday that Volvo’s product-led strategy could drive sales growth of 30% to 1,300 vehicles this year.

The Swedish car maker sold 1,000 vehicles in 2015, down from 1,260 in 2014 and 1,603 in 2013. The company posted its highest sales in the country in 2012 with 1,854 vehicles purchased.

The newly appointed Ms Andersson said last July that the company had a three-year plan to double Volvo sales in Thailand by 2017. But in light of lower sales in 2015, Ms Andersson said yesterday that the target year would be pushed back to 2018.

She said Volvo would have to introduce more competitive models during 2016-18 to drive sales. Yesterday, Volvo introduced its sport-utility vehicle (SUV) XC90, available in diesel and plug-in hybrid platforms, with prices starting from 4.89-5.99 million baht.

The XC90 is Volvo’s first eco-friendly model for the Thai market. The company is also committed to introducing two other new models over the next few years — its S90 luxury saloon and V90 wagon. In Thailand, Volvo is ranked third in the luxury-car segment. Two German car makers, Mercedes-Benz and BMW Group, control over 90% of the local market.