New Delhi: German car manufacturer Volkswagen is preparing to launch premium cars to establish its presence in the Indian car market. The sales of cars in India are increasing due to the rapid increase in the highway network and the purchasing power of the people here. According to a report in English newspaper Economic Times, Volkswagen’s Executive Director (International Sales) Michael Mayer said that the company is investing in premium cars to strengthen its presence in the Indian market.
India becomes the third largest automobile market in the world
Michael Mayer is currently on a visit to India after assuming the charge of Executive Director of International Sales at Volkswagen. During this, while talking to the media, he said that India has emerged as the world’s largest automobile market by surpassing Japan. He said that a decade ago no one had imagined that India would become the third largest automobile market in the world after China and America.
13,814 km highway network in India
The report says that during the current financial year 2023-24, a network of 13,814 kilometers of highway will be ready in India, whereas the total length of the highway network in Germany is 13,000 kilometers. Along with this, sales of new vehicles in India increased by 7 percent to 5.07 million in 2023, which is more than the sales in Japan. This is the second year when India has left Japan behind in terms of vehicle sales. In the year 2023, despite increasing by 14 percent, the sales of new vehicles could reach only 4.77 units.
India is the main market for Volkswagen
Michael Mayer said that India is a major market for Volkswagen worldwide. This is a market of about 40 lakh units of passenger vehicles and this year the sales of passenger vehicles are expected to increase by five to seven percent. He said that the company is committed to selling premium cars in India and will continue to offer its premium products for the coming years.
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Volkswagen will bring EV car by October-December
Amid the rapid increase in demand for electric vehicles in India, Volkswagen is also preparing to launch its new electric car in the market. It is expected that the German car manufacturer will launch its electric car in the October-December quarter of the year 2024. It is also being told that Volkswagen will launch its electric cars in India in three phases.
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