The largest car maker in Europe is aiming to capture 8-10 per cent of the local market over the next four to six years as it rolls out new models and expands its distribution network in the country.
The biggest and well known car manufacturer in Europe is aiming high of capture 8-10 per cent of the local market over the next four to six years as it rolls out new models and expands its distribution plans and networks in India.Volkswagen has invested around 580 million euros, or Rs 3,800 crore, in the Chakan facility, Jochem Heizmann, member of the Volkswagen board of management, said and added that this was the largest investment to date by a German company in India.
The Chakan plant has an annual capacity of 1,10,000 units and will be used to manufacture the Skoda Fabia, the Polo hatchback and a sedan will be launched soon in the second half of next year 2010.
With the Polo, Volkswagen is looking to tap the compact car category, which is the most happening segment in the domestic automobile market.
Jochem Heizmann, member of the Volkswagen board of management said that the company would like to achieve a localization target of 80 percent in the next 2 to 3 years. Currently the level of localization is around 50 percent. He added that higher localization will enable them to offer products at a more competitive price.Ashok Chavan, Maharashtra Chief Minister who was also present at the December 12th function said that the state government would extent all possible support and help to the car makers to achieve its full capacity utilisation at the earliest.
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