»
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
facebookTwittergoogleskypewhatsapp
Skoda India Eyes Up to 10% Growth in 2018
The logo of Skoda cars is seen beside main building of Volkswagen brand at the company's headquarters in Wolfsburg. The logo of Czech-based Skoda cars is seen beside the main building of its core Volkswagen brand at the company's headquarters in Wolfsburg July 13, 2005. (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.

Don't Forget to Subscribe to the 'Tech And Auto Show' YouTube Channel

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.

Also Watch

| Edited by: Ayushmann Chawla
Read full article

Live TV