Volkswagen plans to accelerate annual growth to 15 pc in next five years

A senior company official revealed that Volkswagen India has set a target of accelerating its growth rate to 15 per cent in the coming five years.

Volkswagen Group Sales India Director Neeraj Garg mentioned that Volkswagen India sold 32,000 cars in India and expects to increase the number to 50,000 cars. The company intends to achieve compounded annual growth rate (CAGR) of 15 percent in net within five years.

Volkswagen Polo and Volkwagen Vento have contributed majorly in increasing the sales of the company in India. He further added that in the last four years the company has launched 7 models in the country out of which Volkswagen Polo and Volkwagen Vento have been the favorite.

The company intends to conquer 20 percent of the passenger car market in India by 2018.

Skoda and Audi are the other two brands of the group. Audi is is a well known name in the luxury car segment. He said that the company is planning to increase its dealership across the country. At present there are 70 dealers across the nation scattered in 57 cities.The company opened its second dealership in Kolkata today.

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