Volvo today announced the launch of S60 T6 petrol variant in India.

The vehicle, priced at Rs 42 lakh (ex-showroom Delhi), is powered by a 2.0-litre 4-cylinder petrol engine that is good for 306 HP and 400 Nm torque.

The Indian subsidiary of Swedish transportation major Volvo Trucks is set to shift into top gear as revival in mining and infrastructure sectors has spurred the demand for its premium trucks (400 HP and above).

Though the company took 17 years to sell 10,000 trucks, with 5,000 units in the first decade (1998-2009) and another 5,000 over the last six years, the subsidiary is gearing up to meet the growing demand in the core sectors. It is now confident of selling the next 5,000 trucks in three to four years.

Mumbai/New Delhi: Swedish manufacturing company AB Volvo is looking to sell its remaining 3.71% stake in Eicher Motors Ltd and monetize 1.01 million shares of the Indian company that it currently holds. Shares of Eicher Motors were trading at Rs.18,210 apiece on Wednesday.

According to a term sheet reviewed by Mint, the company will look to sell its stake in a block deal on Thursday. The shares, if sold in the range of Rs.17,190-18,190 apiece, taking into account a maximum discount of 5.5%, could fetch Volvo as much as Rs.1,820 crore.

MUMBAI: Chinese carmaker Geely-owned Swedish luxury car brand Volvo is set to enter the compact luxury car race in India and challenge the German rivals Mercedes Benz, Audi and BMW with two new offerings in the sub-Rs 30 lakh bracket.

A small luxury hatchback V40 diesel and V40 Cross Country with 1.6 litre petrol engine will be launched in the coming few months as the Scandinavian carmaker targets 65% growth in India in 2015 to touch the 2,000-units mark in annual sales.

A day before Volvo, the Swedish truck maker, was to partly sell its stake in Eicher Motors, investors dumped the latter's shares, forcing the stock down a little over three per cent on the BSE.

After clarification that Volvo would remain committed to its India operations, which it runs jointly with Eicher, the Delhi-based company's shares closed with a gain of one per cent on Wednesday.

CHENNAI: The commercial vehicle industry, battered by its worst slowdown in a decade in the last two years, is beginning to turn around and should end the current financial year either flat or on a positive note.

That's a huge improvement from the 20%-plus negative growth clocked last financial year. According to top industry sources, the top-end tractor trailer segment has already hit pre-slowdown, 2011-level growth once again totting up 52% growth in the first seven months of this calendar.

In the backdrop of 52 people charring to death in accidents involving Volvo buses last year, the government might issue directives to manufacturers for minimising the impact of such mishaps, including designing fuel tanks in the centre and easily accessible emergency exits.

The recommendations for change in bus designs has been given by a high-level panel probing two accidents involving Volvo buses last year.

VE Commercial Vehicles (VECV), the six-year-old 50:50 joint venture between Sweden’s Volvo Group and Eicher Motors Limited, is working with its partner, Volvo to develop products for export markets.

The company is currently in the process of exporting its made-in-India light and medium commercial vehicles or LCVs to select markets in West Asia, South Asia and Africa.

Mumbai: After declining for 33 consecutive months, sales of medium and heavy-duty trucks picked up in June, as an improvement in the mining sector and a pick-up in manufacturing led to some revival in demand for commercial vehicles.

With the exception of Tata Motors Ltd, the market leader in the commercial vehicles, sales at most firms, including Ashok Leyland Ltd, Eicher Motors Ltd, Volvo Eicher Commercial Vehicles Ltd and Mahindra Trucks and Buses Ltd, saw a spike.

Ban on iron ore mining and cancellation of coal block allocations besides a general slowdown in the economy had impacted the sales of Volvo trucks, according to VE Commercial Vehicles (VECV) chief executive officer, Vinod Aggarwal.

VECV is a 50:50 joint venture between the Volvo group of Sweden and India’s Eicher Motors Limited. It sells Volvo trucks in India mainly to the mining sector. Its plant in Bangalore has a capacity to assemble 2,000 trucks a year.

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