BANGALORE: Swedish group Volvo, the world's second biggest truck maker, on Monday launched its new FM9 tipper truck in India, aiming it at the construction industry of an emerging market aided by a fast-growing highway project.
Officials of Volvo India Private Ltd declined to give expected sales figures at a launch news conference for the 9.4 litre engine truck but said they expected sales to be "fairly good over time."
Since its launch in India three years ago, Volvo has so far sold 500 units of its FM7 truck, a 7.0 litre vehicle it launched in 1999, they said.
Ulf Nordquist, managing director of the Indian unit, told Reuters on the margins of the conference that the truck maker was positioning itself for the long haul in India, where national highways are currently being widened to four lanes from two.
India is implementing a major 10-year programme involving two separate projects to upgrade 13,000 km of highways at a cost of about $13 billion. Volvo aims to gain as a maker of heavy-duty multi-axle trucks.
Volvo, which also makes inter-city luxury coaches, construction equipment and power systems in India, said earlier this year that its sales the country rose nearly 25 per cent in 2001 to Rs 250 crore ($51.9 million).
Company officials said they were not in a position to give figures for the current year.
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