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Volvo bullish about truck sales in India, expects 30-40% growth next fiscal year

Volvo India is bullish about its truck sales in the Indian market and expects a 30 per cent to 40 per cent growth in this category during the next financial year (FY2021-22). 

Published: 25th March 2021 10:27 AM  |   Last Updated: 25th March 2021 10:27 AM   |  A+A-

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Express News Service

CHENNAI:  Volvo India is bullish about its truck sales in the Indian market and expects a 30 per cent to 40 per cent growth in this category during the next financial year (FY2021-22).  Speaking to this publication, Kamal Bali, MD, Volvo Group India said that its medium, light, and heavy trucks were doing well and that they have achieved pre-Covid sales levels. Bali added that the increase in industrial and mining activity will act as growth drivers and boost sales.

The company is equally hopeful about the growth in its construction equipment business. The sector is doing fairly well, Bali said, adding that construction activity in government projects was carrying on in full swing. Volvo has strengthened its product portfolio to cater to the demand. 

 “The government is investing in different infrastructure development projects like Bharatmala which is bringing in more business for our construction equipment sector,” explained Bali. “Almost 40 per cent of our revenue comes from the truck segment while construction equipment currently contributes around 25 per cent. But we are hopeful that in the next financial year, the revenue share of the construction equipment business will be around 35 per cent to 40 per cent,” he said. 

Volvo also expects its overall India business to grow next fiscal since, except bus sales, other segments are performing well. “We will be strengthening our business in the Indian market,” said Bali, “Bus sales are still down since public transport is yet to return to normalcy, but that will not affect our overall growth since the contribution of bus sales to our revenue is very marginal,” he added. 
 



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