Volkswagen targets 20 percent market share by 2018

 | February 16,2011 10:34 am IST

German automobile manufacturing group Volkswagen is eyeing 20 percent market share in India by 2018 in terms of volume, a top company official said Tuesday.


"The size of the passenger car industry in India will be five million units by 2018 and we as a group are aiming at capturing 20 percent market share then," Neeraj Garg, director of Volkswagen Passenger Cars India, told reporters here.


"Now as a brand, our market share is two percent," he said.


Noting the company started its operation two years back in India, he said: "In 2009, we sold about 3,000 Polo and Vento cars and last year we sold 32,000 cars."


The carmaker has seven cars in its portfolio.


"We have a widest range of price point - from Rs.4.5 lakh to Rs.75 lakh," Garg said.


The company has two manufacturing plants in India - one in Pune and the other in Aurangabad.


"In our Pune plant, which has the total capacity of manufacturing 110,000 cars, we recently made an investment to the tune of Rs.3,800 crore," Garg said.


He said the company had 14 dealers in 2009 and last year, the figure reached 70.