VW To Introduce Budget Brand In India
Advertisement
Advertisement
Volkswagen caters only to 50-60% (Rs 5 lakh and above) of the 2.5 million Indian passenger vehicle market.
Known for its build quality and premium feel, Volkswagen has positioned itself in the higher end of the existing premium hatchbacks and
The largest car-maker in Europe is known to build tough and premium quality vehicles. In India, Volkswagen has placed its vehicles in the premium hatchback and sedan segment. However, they plan to introduce a more affordable brand which will open up the company's play in the sub Rs 5-lakh bracket as well.
The decision is likely to be taken in the next one year, and if the plan works, the brand will take at least 3-4 years to hit the market, said a report. By then, the company would have localised its products in India, with the local engine and gear box plant in place, which will be the key to producing value for money vehicles for India, it added.
Advertisement
Abdul Majeed, partner and auto expert at
Majeed believes the compact small cars will continue to be a large chunk of the Indian market by the end of this decade with the per capita income not likely to exceed $3000-4000. The middle class population will only explode further and they will invariably choose a small car.
The company is putting all the things in place for a better run in the next three-four years, with the company aiming for a market share of 7-9% for the entire group by the end of 2018-2020.
The German manufacturer plans to launch six to seven vehicles over a period of two years. They will launch a facelift of the Polo, Vento and compact
Advertisement
- Reasons to visit Kinnaur in summer: The perfect summer destination
- 8 fiber-rich foods to boost your weight loss journey
- FLiRT-ing with pandemic! With a sharp rise in COVID cases, could Singapore be witnessing the start of a global wave?
- Roasted shark? Ashneer Grover faces backlash over legal tussle with comedian Aashish Solanki
- Indian PSUs hold immense investment potential, experts bullish on defence and mobility
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market