Volkswage Passenger Cars India has reported a flat growth of 1 percent for the month of October in comparison to the same period last year.
The company sold 3,213 units during October, witnessing a flat growth (October 2018: 3,191 units) over comparable period last year. Out of the total sales, Polo and Vento had 19 percent share in the total volumes and saw growth of 4 percent in September YoY.
Indian automobile industry has been witnessing its worst slowdowns in decades with most OEMs being forced to make production cuts which consequently have led to massive job layoffs. However, the ongoing festive season was expected to provide some spur in demand.
Commenting on the development, Steffen Knapp, director, Volkswagen Passenger Cars said, "Volkswagen India has been consistent in its performance on a month-to-month basis. The brand has been driving sustainable growth, which is reflected through our October 2019 results. It gives me immense pleasure to attribute this accomplishment to our product pillars - new Polo and Vento. As a brand, we're devoted towards offering a value-for-money proposition to Indian customers."
In July 2018, the Volkswagen Group confirmed investments of Rs 8,000 crore (EUR 1 billion) in the 'India 2.0' project. Last month,
According to the VW Group, the merger marks an important milestone for its India 2.0 project, which is set to see the development and launches of multiple models from Volkswagen and Skoda. The new models will be underpinned by an India-specific iteration of the Group's MQB-A0 platform - the MQB-A0 IN. The first models, post the merger, are set to be midsize SUVs from Skoda and VW. They will be previewed by concepts at the 2020 Auto Expo that's set to be held in New Delhi from February 6-9, 2020. In the second phase of the project, Volkswagen Group will be examining the possibility of exporting vehicles built in India. Aside from the SUVs, the platform will also underpin a sedan each from VW and Skoda, with the Group looking to expand the market shares of the two brands in India by 2025.