Swedish luxury carmaker Volvo on Tuesday said its India expansion plans will continue without any rethink even if its owner Ford sells the brand in the wake of the global slump in sales.
Ford might (eventually) sell off Volvo, but by when and to whom, I do not know... But there will be no change in our India plan, Volvo Car India Managing Director, Mr Paul de Voijs said. The company would continue to expand its dealership network and bring in new car models to India irrespective of emergence of any new picture in its global front, he added.
The struggling US auto major Ford, had reported a loss of over $14 billion in 2008. As part of its cost restructuring, it has been reported that the company may sell off Volvo, which it had bought in 1999 for over $6 billion.
Bullish on the Indian top-end auto market segment, Mr Voijs said: Luxury segment is not facing much of a slowdown here and it will perform better than the general car market. We are potentially looking at bringing in the sports utility vehicle - XC60 to India. He, however, did not specify any time frame for the possible launch of the vehicle.
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