Volvo has confirmed it will spend EUR100m in the coming year expanding its dealer network by more than 20 new outlets across Russia.
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The Swedish firm is one of the country’s leading premium brands and Russians can’t get enough.
The announcement by Fredrik Arp, chief executive officer, came as Volvo launched its XC60 at the Moscow show.
He said: “Russia is the new powerhouse in the global automotive industry. We have already sold 21,000 new vehicles this year, an increase of 95%. And we are confidently expecting this figure to be nearer 29,000 by the end of the year. Everything points to the fact that the Russian market is in full swing and one of the most important for the growth of the Volvo brand.”
Indeed, executives predict that Russia, in 2009, will be a top five market for the new XC60 – a car that’s perfectly positioned for the growing SUV market. Promising a premium feel, image and driving dynamics, the sturdy compact SUV will strengthen the Swedish firm’s case for sustained growth in coming years.
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By GlobalDataAll of which makes the challenge from domestic brands, such as Lada, all the harder.
First production examples of the XC60 will reach Russian showrooms by the end of 2008.
