Volkswagen India is planning to launch sub-B segment model Up! in India by late 2010 or early 2011. Volkswagen aims to occupy at least 10 percent market share in India in next 4 years. The new model will be priced below Polo hatchback model and will cost around Rs. 3.5 lakh to 4.5 lakh depending upon the variant.
“UP! will be the cheapest car from the Volkswagen stable, which also includes Audi and Skoda Auto, our subsidiary companies. We are yet to decide on its entry, but it's a great car for a market like India,” said Jeorg Mueller, Volkswagen's India President & MD. “It is clear we need a car below the Polo and are looking at different options and working on it. That maybe the Up, or another car. However, no decision has been made yet," stated Dr. Jochem Heizmann, member of the Board of Management of Volkswagen AG.
Volkswagen AG has become one of the largest auto makers in the world and owns one of the most premium brands of automobiles. It is aggressively expanding its base in India with launch of new models like Polo hatchback, Polo sedan, Beetle and even small car model like Up! It intends to have nearly 200 dealerships in India by the end of 2010.
