Volkswagen rolls out Polo in India; aims for 10-per cent market share
14 December 2009
Volkswagen, Europe's largest carmaker, on Saturday rolled out its first made-in-India car, the Polo, from its plant at Chakan near Pune.
Polo is a five-seat, five-door, upper-end compact hatchback which will be available in both petrol and diesel versions.
It will take on the likes of the Hyundai i20, Maruti's Swift and Ritz, and the Tata Indica Vista.
VW is aiming to capture 8-10 per cent of the Indian market over the next four to six years as it rolls out new models and expands its distribution network in the country, the company said at the launch.
Volkswagen had invested around 580 million euros (Rs3,800 crore) in the Chakan facility, Jochem Heizmann, member of the Volkswagen Ag board, said, and added that this was the largest investment to date by a German company in India.
The company hopes to produce 110,000 units from this site, which is also the initial production capacity of the plant, in the next three to four years. The company will produce the Polo and the new sedan from this plant, in addition to the Skoda Fabia (which is already being produced here). Production can be ramped up to 160,000 units per annum.