VW to funnel more money into India

AUTO EXPO 2004

Volkswagen group firm Skoda Auto said it had met its investment commitment of $56 million in its Indian operations as it had shifted to a new production unit in Aurangabad.

It now plans to scale up investments to support a new product line-up, including the luxury car Superb, Octavia L&K and the compact sedan Fabia.

The company also aimed to register a 65 per cent increase in sales of the Octavia to 8,000 units this year, Skoda India Managing Director Imran Hassen said here, at a preview of the company's show in the Auto Expo.

The Superb is expected to hit Indian roads by March, which will be followed immediately by the Laurin & Klement (L&K, named after the founders of the company) variant of the Octavia, and the company's current global bestseller Fabia by the end of this calendar year.

Hassen said that during the year, Skoda would also launch an automatic version of the diesel Octavia and another variant fitted with a 1.8 litre turbo diesel engine.

The Superb is expected to cost Rs 23-24 lakh while the L&K, which comes fitted with some high-tech features, will be priced around Rs 13.5 lakh.

Hassen said that soon after the launch of the L&K and Superb, the company would foray into the pre-owned car business which will be known as the Skoda 'Signature'.