Volvo Rents Moves In India
20 March 2008
Volvo could open as many as four Volvo Rents locations in India this year as part of the global expansion of its rental business. Bud Howard, vice president of global development at Volvo Rents, said India's massive infrastructure programme would dramatically raise the demand for rental equipment.
“They are going to go from nothing to relative [rental] maturity in a very short period of time”, said Mr Howard, speaking to IRN at the Bauma show in Munich at the end of April. There will be two locations in the south of the country, one in the east and one in the west.
Mr Howard said Volvo Rents had just opened its first location in Mexico-in Mexico City in February-and would launch in Dubai, UAE, also this year.
Volvo Rents also anticipates having a rental business in China. Mr Howard said; “We are manufacturing there, and are deeply commited to the country... We are taking a serious look at China, and will be there when the time is right. I don't think it's going to be five years, it could be two or three years.”
Meanwhile, Mr Howard said Volvo's acquisition of Ingersoll Rand's road business could have a big impact on Volvo Rents’ US network. Many of the IR dealers acquired in the deal have rental operations, and Mr Howard said these could add up to US$ 50-60 million in annual rental revenues in North America.