Volvo Auto India Friday said it may launch stripped-down version of one of its luxury sedans in the first quarter of 2012.
"We may launch a corporate version of one of our luxury sedans in India by first quarter of next year," Volvo Auto India's newly appointed managing director Tomas Ernberg told reporters here.
According to the company, the consideration to launch the stripped-down variants would help it to penetrate the Indian market further, where the company expects to triple its sales in this fiscal.
"Last year we sold around 300 cars. This year, we expect to triple this number. But I do not know what exact figure it would be. It will be one of the highest growth percent," De Vojis, former managing director of Volvo Auto India, said at the event where he handed over his charge to Ernberg.
The company said that it currently has no plans to start any financial or leasing services in the country, but expects the car leasing market to boom in the long-term.
Currently, Volvo offers four premium models in the country, including sports utility vehicle (SUV) XC90, XC60 and luxury sedans S80, S60.