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Volvo bags largest ever order from Hubli-based VRL
By siliconindia
|
Tuesday, 07 December 2010, 18:14 IST
Chennai/Bangalore: Volvo, Swedish based bus maker has bagged its single largest order of 100 multiaxle buses from Hubli-based VRL Logistics. The deal is estimated to be 
90 crore.
The Hubli based VRL Company has been a customer of Volvo Buses India Private Limited (VBIPL) since 2003. Vijay Sankeshwar, chairman, VRL Logistics said "During the next one year, we will add 550 commercial vehicles including 250 buses."
VRL which is one of the largest operators of commercial vehicles in India hosts about 2,800 vehicles and has about 250 buses in its fleet. Since their partnership with VBIPL in 2003, VRL has acquired about 48 buses. The deal has proven to be fruitful and hence they are shaking hands again to expand their business.
Akash Passey, managing director, VBIPL said, "This order which comes in tandem with Volvo Buses future expansion announcement flag bears the confidence that the customers today repose in Volvo and the Indian bus market."
Passey also said, "Volvo's strategy to continuously re-invent and improve its products and features was kept alive in 2010 by bringing in the CNG bus, introducing Euro IV regulations in its new facelift Euro IV city bus and the step to Volvo Bus Centers across key cities, to provide a higher level of service and experience for our customers and their drivers. Volvo is focused in offering the entire gamut of support services along with the product and is the first company to be singularly focused on only one business - buses."
Volvo Buses are expected a growth of 15-20 percent overall and the soft services to will give 50 percent of their revenue in 2013-14. Its revenues for the year 2010 are expected to be in the range of Rs 550 crore.
Volvo today has over 75 percent market share in the luxury inter-city AC coach segment and over 50 per cent market share in the AC Diesel Low Floor City buses, which are present across 12 cities in the country. Last week Volvo City Buses entered its 12th city - Mumbai. Currently, there are about 3,500 Volvo buses operating in India, both in the city and inter-city segments.
90 crore.
The Hubli based VRL Company has been a customer of Volvo Buses India Private Limited (VBIPL) since 2003. Vijay Sankeshwar, chairman, VRL Logistics said "During the next one year, we will add 550 commercial vehicles including 250 buses."
VRL which is one of the largest operators of commercial vehicles in India hosts about 2,800 vehicles and has about 250 buses in its fleet. Since their partnership with VBIPL in 2003, VRL has acquired about 48 buses. The deal has proven to be fruitful and hence they are shaking hands again to expand their business.
Akash Passey, managing director, VBIPL said, "This order which comes in tandem with Volvo Buses future expansion announcement flag bears the confidence that the customers today repose in Volvo and the Indian bus market."
Passey also said, "Volvo's strategy to continuously re-invent and improve its products and features was kept alive in 2010 by bringing in the CNG bus, introducing Euro IV regulations in its new facelift Euro IV city bus and the step to Volvo Bus Centers across key cities, to provide a higher level of service and experience for our customers and their drivers. Volvo is focused in offering the entire gamut of support services along with the product and is the first company to be singularly focused on only one business - buses."
Volvo Buses are expected a growth of 15-20 percent overall and the soft services to will give 50 percent of their revenue in 2013-14. Its revenues for the year 2010 are expected to be in the range of Rs 550 crore.
Volvo today has over 75 percent market share in the luxury inter-city AC coach segment and over 50 per cent market share in the AC Diesel Low Floor City buses, which are present across 12 cities in the country. Last week Volvo City Buses entered its 12th city - Mumbai. Currently, there are about 3,500 Volvo buses operating in India, both in the city and inter-city segments.