Volkswagen targets 5% market share in India
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Mumbai: German auto major Volkswagen group is targeting 5 per cent market share in the Indian passenger vehicles market before the turn of the decade with alternative fuel technologies slated to play a key role in achieving the target, a senior company official said on Thursday.
The group, which in 2018 announced its India 2.0 strategy led by group brand Skoda had set a target to achieve 5 per cent market share by 2025 but missed it due to events like the COVID-19 pandemic, currently has about 2.5 per cent share in India. Skoda Auto Volkswagen India Pvt Ltd (SAVWIPL) manages the Indian operations of six Volkswagen Group four-wheeler brands - Skoda, Volkswagen, Audi, Porsche, Lamborghini and British super luxury brand, Bentley.
"In the last two or three years as we have evaluated, our medium term aspiration is definitely to go to 5 per cent market share. We are little below 2.5 per cent now...and we would definitely need product interventions to reach 5 per cent and that is what we are working on," Skoda Auto Volkswagen India MD & CEO Piyush Arora told reporters here in an interaction.
