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Volkswagen Budget Brand Could Be Launched In 2016-17
It is being reported that Volkswagen has revived its plans to launch a new brand that will build budget cars for emerging markets.
Earlier, VW had decided not to go ahead with the budget brand project as the Group was ready to compromise on its product quality. Maintaining their quality standards could not be achieved without crossing the budget ceiling that was required to keep the project profitable.
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VW has now reportedly come up with a viable proposal which will be submitted for board approval soon. If the go-ahead for the project is given by the board, an all new brand will be created, which will be VW Group's 13th.
Once approved, the process of setting up a new brand will end in 2016 or early 2017. The first budget cars from the new brand would be manufactured in China, in association with VW's local partners, SAIC and FAW.
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Cars coming from VW's budget brand would cost anywhere between €6,000 and €7,500. Apart from China, the new budget brand will also do business in countries such as, Latin America, Eastern European nations and other emerging markets in Asia, including India.
The least expensive car wearing a VW badge in India is the Polo, which, with a starting price of over INR 6 lakhs, is considered a premium hatchback. In Europe, the Up! is the entry level car offered by VW, which in the UK, costs 8,265 pounds.
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