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1-min read

Skoda India Eyes Up to 10% Growth in 2018

The company is also eyeing the volume segment for which an evaluation process is underway.

PTI

Updated:May 4, 2018, 11:45 AM IST
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Skoda India Eyes Up to 10% Growth in 2018
Representational image. (Photo: Reuters)
Skoda Auto India, a part of Volkswagen Group, is looking at a growth rate of 8-10 percent in 2018 and continue to operate in the premium segment as a part of its short-term strategy, a company official said today. The company is also eyeing the volume segment for which an evaluation process is underway, the official said. "In 2017, the company sold 17,436 units, a growth of 30 percent over 2016. In 2018, we are looking at a growth rate of 8-10 percent," Ashutosh Dixit, director (sales and marketing) of Skoda Auto India said.



Dixit said that lower growth rate projection this year is due to higher base of sales numbers in 2017. The Czech automobile maker said it was feeling the pinch of the imposition of five percent customs duty in the budget on imported components. "We import a lot of auto components from outside India and the duty has pushed up costs on an average by 3-4 percent," he told reporters here today.

Also Read: Former Volkswagen CEO Winterkorn Indicted in US Over Dieselgate Scandal

The company has raised prices by one percent so far. "Plans are there to raise up to four percent in phases," he said. To a query, he said that sales has not been affected as such as competition also faced the same duty imposition issue which pushed up costs.

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On electric vehicles (EVs), he said that Skoda is ready with the prototype and would launch in India when the right infrastructure is in place. "At present, Skoda will operate in the premium segment as the pie is growing," Dixit said.

(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Ayushmann Chawla
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