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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: VW targets sales of 100,000 cars in India by 2014 AFP - Thursday, August 20 NEW DELHI (AFP) - - German automobile giant Volkswagen AG, seeking to tap into India's fast-growing vehicle market, said Wednesday it hopes to sell 100,000 cars by 2014 in the country. ADVERTISEMENT Europe's largest car manufacturer said it would accelerate its sales in India using the planned launch next year of its popular mass-market Polo hatchback and sedan models. In 2008 Volkswagen India sold 1,566 vehicles and in the year 2009 the company hopes to double that figure. Volkswagen, which wants to reduce reliance on saturated Western markets, aims to increase the number of cars it sells in India to 100,000 cars in five years, Volkswagen India's director for passenger cars, Neeraj Garg, said. The company plans to launch the hatchback Polo model during the first half of 2010 and the sedan model in the second half of next year. "I am totally confident we can achieve this sales increase," Garg told AFP. "We need to have a product in the mass market (in India) and for that the Polo is the right car," Garg said. "The premium hatchback segment in India is showing very promising growth -- there's huge opportunity," he added. The Polo will be manufactured at the company's new Chakan plant near Pune which opened in March and has the capacity to produce 110,000 cars a year. India is "one of the most strategic markets for growth of Volkswagen globally -- the company has invested heavily in India," Garg said. Volkswagen already sells its Passat and Jetta sedans in India as well as its premium Phaeton and Touareg SUV. The company is also planning to sell in India its new Beetle, the remake of the iconic "bug," Garg said, adding its introduction may come before the launch of the Polo. Nearly all big global carmakers are present in India or establishing plants to drive revenue growth. India, with its growing middle class, is one of the few countries where car sales have been increasing amid the worldwide economic downturn. The country is one of the world's least penetrated car markets with just seven autos per 1,000 people compared with 850 cars per 1,000 people in the United States, industry figures say. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: Business ASIA CREDIT-Indonesian spreads narrow gap over PhilippinesReuters - 2 hours 39 minutes ago India's Adani Power shares fall below IPO priceReuters - 2 hours 43 minutes ago Australia ASX says plans to launch carbon futuresReuters - 2 hours 46 minutes ago Indian bonds steady; buyback results eyedReuters - 2 hours 46 minutes ago China Mobile Q2 net profit down 1.6 pctReuters - 2 hours 47 minutes ago Enlarge Photo VW targets sales of 100,000 cars in India by 2014 Related Photos Slideshow Full Photo Coverage: Business & Economy Most Popular – Business Viewed UK UFO sightings spiked when blockbusters released Canadian singer Celine Dion pregnant with second child Egypt warns pharaohs' tombs could disappear Sleep disorders linked to premature deaths: study It's nuts! Squirrel becomes a Web sensation View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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