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21. June 2009

Volvo sees growth for truck segment in India

Volvo, world's second largest heavy duty truck makers expects to have flat growth for its premium truck segment in India this year. Mr Somnath Bhattacharjee president of Volvo Trucks India said that "We were growing about 20% to 25% annually. This year we expect very flat growth although we don't expect negative trend. This is despite the fact that the heavy duty truck market in India has declined by 50% in first five months.”

Mr Bhattacharjee said that Volvo had a marginal dip in the first five months this year. He added that "The marginal dip was in April and May this year. Till March and then in April to May, due to the general elections, our growth was low because most of our sales are for large corporate and contract driven.” Mr Bhattacharjee said that the condition during general elections was not of a slowdown. He said that "The award for the contracts before general elections was deferred. It was not a slowdown but deferment of purchases which are now catching up in June and July.”

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