Volkswagen Planning New Brand Of Low-Cost Cars
Frankfurt: Volkswagen AG is working on low-priced small cars that will be available from EUR5,000 in emerging markets, the Volkswagen board member in charge of technology said in an interview with German automobile magazine Auto Motor und Sport to be published Thursday.
The company has developed expertise in this area and will offer products tailored to individual markets, Ulrich Hackenberg is quoted as saying.
"In India, we are building the Vento and a localized version of the Polo which costs only about EUR7,000," he tells the magazine, adding that in China the company is planning a cost effective car about the size of Seat Toledo.
Volkswagen will introduce cars priced between EUR5,000 and EUR7,000, but not under the VW brand, the magazine reports. These cars will have a brand of their own.
Hackenberg added that a decision on whether these cars will be produced with a Chinese partner hadn't been taken.