Volkswagen's Vision: Driving Towards a 5% Market Share in India
Volkswagen aims for a 5% market share in India's passenger vehicles market by the decade's end, leveraging alternative fuel technologies. Despite missing their 2025 target due to COVID-19, the group is focused on product interventions and new launches like the Taigun SUV to achieve its goals.
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- India
Volkswagen is setting its sights on capturing a 5% market share in India's competitive passenger vehicles sector by the end of the decade. A senior official from the company revealed that alternative fuel technologies would be pivotal in reaching this ambitious goal.
The company previously aimed for a 5% share by 2025 but fell short due to unforeseen challenges like the COVID-19 pandemic, currently holding around 2.5% of the market. According to Skoda Auto Volkswagen India MD & CEO Piyush Arora, product interventions, including both internal combustion engines (ICE) and alternative fuels, are essential for reaching the target of 5%.
New product rollouts will feature electric vehicles, with a strategic focus on CNG. Investments in the next growth phase will mainly focus on product developments, though specifics aren't finalized. Despite global conflicts, the auto major is optimistic about industry growth and believes that new models will further bolster their presence in the market.
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