A joint venture between Volvo and Eicher Motors, VE Commercial Vehicles (VECV) has reported a decline of 58.27% in the sales of its Eicher brand commercial vehicles in January 2009. The company sold 940 units in January 2009, compared to 2,253 units in January 2008. At 121 units in January 2009, exports were down 41.8%, while domestic sales, at 819 units, were down 60% compared to January 2008.Read More
With Ford looking at selling off its Volvo cars brand, the Scandinavian carmaker may be in serious trouble these days, but that has not stopped the company from working on new cars. And the newest, coolest Volvo seems to be the S60 Concept, which will be unveiled at the Detroit Motor Show in January 2009.
These first photographs of the S60 Concept provide a glimpse at what the next-generation Volvo S60 sedan will look like when it’s launched in 2010. ‘The all-new S60 will be one of the strongest players in a segment where the competition is razor-sharp,’ says Stephen Odell, President and CEO, Volvo Cars. ‘The driving properties are better than in any previous Volvo,’ he adds.
With its striking, coupe-ish styling, high-tec...Read More
Volvo wants 8.1% of Eicher
The finance minister, Mr Chidambaram and the Foreign Investment Promotion Board (FIPB) have approved Volvo’s proposal to acquire 8.1% of Eicher Motors Ltd. Volvo, the world’s second-largest manufacturer of trucks, had announced last year that it wanted to buy a stake in Eicher Motors, India’s third-biggest truck maker.
India is the world’s fifth-largest market in the world for trucks, and Volvo, by forming a JV with Eicher, wants to strengthen its presence in the country and increase its market share.
Since it involves more than Rupees six billion, the Swedish company’s proposal will now be referred to a cabinet panel on economic affairs.