Volvo Auto India, the India unit of Volvo Cars Corporation launched three variants of its car models in India on February 15, 2012 which are powered by smaller engines and are thus cheaper than the existing car models. The step has been taken by the company in order to achieve its target of selling 20,000 annually by 2020.
The sedans S60 and S80 and the SUV XC60 have been given a 2.0 liter diesel engine for the base models of the cars. While the new base variant of the S60 comes with a price tag of Rs. 23,20,000, the S80 has been priced at Rs. 31,20,000 and the SUV XC60 at Rs. 33,20,000. The new base variants of the car models bring down the prices by Rs. 6,00,000 in comparison to the existing base models which are equipped with a 2.4 liter diesel engine.
The company also plans to launch new car models in India in order to offer better competition to BMW, Audi and Mercedes-Benz in the Indian luxury car market. In 2012, the company targets sales of 800 cars in comparison to 320 sold in 2011.