Looking to increase its market share to 10 per cent by 2018, German auto major Volkswagen on Thursday unveiled a new concept car as well as the latest version of the iconic Beetle at the Auto Expo in New Delhi.
"Currently, the group’s market share is quite low. But we are working to increase it. India is a fast-growing market. Our share is less than 5 per cent and we are expecting that we would be able to increase to 10 per cent by 2018," Ulrich Hackenberg, Head of Technical Development at Volkswagen, told reporters at the Auto Expo 2012.
The company also unveiled its all-new ‘Touareg’ SUV, which will be available in the market from April at all Volkswagen dealers in the country.
When asked about the prices of the vehicles unveiled, he said they will announce when the cars hit the market.
"We look forward to further strengthening our position in the market by bringing in our latest and most efficient technologies for our customers," Hackenberg said.
He said the company’s models already feature 70 per cent localised content and "we want to increase it and we are looking at engines..." The company unveiled its ‘XL1’ hybrid concept car, which is expected to hit the market by end of this year, at the expo.
About the new Beetle, he said it is equipped with a 7-speed DSG gearbox that enables reduced fuel consumption. Recently, the company said it would invest a minimum of Rs 2,000 crore on its Indian operations by 2013 to ramp up capacity, launch new models and strengthen research activities.
At present, the group, comprising Volkswagen, Audi and Skoda, has two manufacturing facility at Chakan and Aurangabad, in Maharashtra.