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Home arrow News arrow Business News arrow Mining Industry Key growth driver for Volvo Trucks in India
Mining Industry Key growth driver for Volvo Trucks in India Print E-mail
Written by Rajeev, Anand   
Thursday, 18 June 2009
Panjim : Faced with increased demand in the iron ore mining sector, Volvo Trucks has opened its exclusive dealership in Goa, which has a sizable mining industry in The country.

Inaugurating the dealership, Somnath Bhattacharjee, President, Volvo Trucks India, said, "The iron and coal mining industry is the key growth driver for Volvo Trucks in India. In the domestic market our products enjoy a 70% market share in the Premium European truck segment."

He said that the premium truck market was unlikely to witness a slowdown since it is driven by contracts, catering to priority segments like mining, which in-turn is connected to power, infrastructure and urban development. Since these sectors have not been much affected by the slowdown the company expects to register a flat growth this year.

Indian CV, M & HCV segment

In India the cumulative sales of Commercial Vehicles Segment continued to register de-growth. The segment grew at (-) 13.08 percent during April-May 2009 as compared to the same period last year. While Medium & Heavy Commercial Vehicles registered de-growth at (-) 39.64 percent, Light Commercial Vehicles grew at 19.51 percent. In May 2009, commercial vehicles sales fell by 14.77 percent compared to May 2008. M&HCV fell by 37.51 percent.

"Goa became our strategic priority for a new dealership considering the growing Volvo Truck population and future potential. Our products are high on performance and lifetime profitability together with customized aftermarket support. 70 percent of our sales come from repeat purchases," Somnath Bhattacharjee said.
 
Volvo Trucks India is a business area of VE Commercial Vehicles Limited (A Volvo Group and Eicher Motors Joint Venture). Its product range includes the FM range of Tippers & Rigid Trucks for special application e.g. Fire Tenders, Sky lifts, Boom Pumps, Concrete Mixers and the FM/FH range of Tractors in different configurations. Volvo FM Tractor series has applications in express cargo, petroleum & chemicals, bulk cargo, construction and even special cargo. The FH series is used in long-haulage ODC (over-dimension cargo) transport applications. Volvo Trucks has a total population of 5500 units in India.

 
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