VW eyeing 10 pct of Indian car market

0 Comments | AFP, August, 2008

FRANKFURT (AFP) — Volkswagen, the biggest European car maker, is aiming to bag 10 percent of India's burgeoning market within five years, a director said Monday in the business daily Handelsblatt.

"We want to move quickly in terms of volume," VW's president in India Joerg Mueller said.

The group currently has less than one percent of the Indian market.

VW planned to move up the launch of its first wholly-owned Indian factory by six months to early 2009.

It is to invest 580 million euros (million dollars) in a site in Pune, near the financial capital Mumbai, to increase output of the Fabia car built by VW's Skoda unit to 50,000 vehicles per year.

In 2011, the plant is expected to raise that figure to 110,000.

VW also wants to launch...