Volkswagen is a Germany car manufacturer that presently holds the Skoda, Audi, and Volkswagen under its brand name. The group sees an enormous potential in the Indian car market despite of the current economic slowdown.
Jochem Heizmann, Member of the Board of Management of Volkswagen Group said in a statement, "India is feeling the effects of the global financial and economic crisis and growth of the local automobile market has slowed down in the second half of 2008."
He also added, "All experts say there will be strong growth from 1.2 million vehicles at the moment to over 2 million in the next five years."
At present Heizmann is in India to inaugurate Volkswagen's new facility situated in Western India. It is believed that the Group had sold 18,000 units in 2008 that accounts for 50% rise in car sales as compared to the previous year. The new plant situated in Western India is expected to have about 2,500 employees by the year 2010.