Volkswagen aims to more than double market share in India to 6-7% by 2018, as part of its target of becoming the largest global carmaker by the same time overtaking Toyota and General Motors. At present, Volkswagen has around 3% share of the domestic passenger vehicle market.
Arvind Saxena, MD of Volkswagen India Passenger Cars, said that the German carmaker will have to launch multiple new models to achieve this target, while adding production capacity and expanding the variant range of current models. ?We will hope to reach 6-7% market share in India by 2018. To expand our presence, we will obviously have to launch many new models though I can?t say more on these plans,? he said.
He added that while there are two options on the table ? developing local products or introducing global models ? Volkswagen would look to maintain its premium image and go for the latter option. ?The Indian customer is getting younger and his preference are changing towards global tastes,? Saxena said.
Volkswagen is reported to be actively working on multiple models for India, including a compact sub-four metre version of the Vento sedan that will seek to expand volumes by offering a lower price due to tax advantages.
The new model will join other popular compact sedans like the Honda Amaze and Maruti Dzire, which attract a lower 12% excise duty since their length is below four metres and they are powered by engines below 1.2 litre (petrol) and 1.5 litre (diesel). Cars longer than four metres attract 24-27% excise duties.
Other models said to be under development for India with a longer timeframe for launch include the Taigun compact SUV and the Up compact car.