Volvo to keep local assembly on hold

#hashtags: #Volvo #India #Luxury #Mercedes #Benz

Volvo has kept its plan on local assembly on hold for a bit. The current sales volumes are not high enough to validate the investment required to set up an assembly plant.

In India, if Volvo has to set up a bigger footprint, it has to have a local assembly plant to help reduce costs. Currently, Volvo does not do enough sales to validate a huge investment. In India, close to 35,000 units of Luxury vehicles are sold yearly. In 2015 Volvo sold only 1,423 units, while Mercedes-Benz (biggest luxury car...