India Eco Summit: VW Group eyes 8% shares in India

European auto major Volkswagen Group today said it is looking at capturing 8 per cent share in the Indian car market in next 4-5 years on the back of new launches and increased production at the Pune plant.

"We are looking to have 8 per cent market share of the Indian car market in the next 4-5 years by the Volkswagen Group which includes Volkswagen, Audi and Skoda," Volkswagen Group India President and Managing Director Joerg Mueller told reporters on the sidelines of the India Economic Summit here.

The group has around 1.5 per cent share in the Indian car market.

Mueller added that sales of the group have been going well during the last two months and October witnessed the best ever monthly sales for the group.

"The market has recovered and we are firmly on a growth track. Our plan is to increase our sales every month."

The company will also increase production at its Chakan plant in Pune once it introduces its small car Polo in India early next year.

The group inaugurated Rs 3,800-crore Chakan plant in March this year and produces sedans the Jetta and the Passat there.

He added that the company can also increase the monthly production of sedans Jetta and Passat to meet the increasing demand.