Volkswagen aims to grab 10% of India’s market share

Volkswagen AG, aims to capture 8%-10% of India’s market share in the next four to six years. To spread VW’s presence in India, the carmaker recently took a stake in Suzuki Motor Corp.

Last Saturday, VW began production of its Polo hatchback, which debuted in Europe earlier this year, in its plant in western India. Jochem Heizmann, a member of the board of Volkswagen, cited the need for a smaller car in the Indian market, one that will be slotted below the level of the Polo. To date, no decision has been made. VW and Suzuki plan to develop a new small car that would cost between $4,300 and $5,400 for the Indian market, following their recent tie-up, according to the iEconomic Times.
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tango - 12/14/2009 11:27:06 PM

+1 Boost

And here we have it. The first part of the truth behind the Suzuki acquisition. I trust in a few days we'll hear the other part, that VW wants its badge on a motorcycle.