VW CEO confirms budget car family for 2018 – Report
Posted on: Jun 30, 2015 - 8:45am IST
Will further expand the brand’s outreach to more buyers.
In an interview with Bild am Sonntag, Volkswagen Group CEO Martin Winterkorn has confirmed that the company will launch a budget car brand in 2018, which will help further increase the outreach of the brand. Mr Winterkorn has also divulged that the brand would consist of a sedan, hatchback and an SUV.
According to the German publication, he said –
We will bring a budget-car family to market in 2018, with an SUV, saloon and hatchback.
What could very well be the VAG’s 13th brand under its belt, the unnamed brand will mainly focus on emerging automotive markets all over the world. The company will initially target China, where the budget-friendly SUV, hatchback and sedan will be manufactured and sold at a targeted price rage EUR 8,000 – 11,000 (INR 5.68 – 7.81 Lakhs).
Other potential markets such as India, Latin America, eastern Europe, and the Baltic region are also under consideration.
Currently, the cheapest offering for VW in India is the Polo 1.2 Trendline, which starts from INR 5.33 Lakhs (ex-showroom Delhi).
A separate budget brand could help VW India foray into the highly competitive sub 4-Lakh hatchback segment without ruining the premium reputation that VW has in India. At the moment, no details exist on the launch of such a brand in India.
VW Polo – Image Gallery (Unrelated)
[Source – Bild]