Loading...
See More

VW eyes R55 000 budget car

Oct 04 2012 13:35 AFP
VW Golf

The VW Citi Golf (Photo:Supplied)

Related Articles

New vehicles still in demand

Wedding bells for VW, Porsche

VW sales up, warns on debt crisis

VW looks to invest in renewable energy

Compensation claims mount against Porsche, VW

VW seeks talks with Suzuki

 

Frankfurt - Europe's biggest carmaker, Volkswagen, said on Thursday it was considering selling "budget cars" for as little as R55 000 (€5 000) in emerging markets "within two years".

"We need a cheap car for the emerging markets ... that would cost between €5 000 and €10 000," the head of the works council representing the firm's employees, Bernd Osterloh, told the business daily Handelsblatt.

He added he could imagine "such a model being ready in two years."

The firm should "attack new markets like South-East Asia or Africa more aggressively," he stressed.

He said that in big markets like India and China, the firm might be able to offer a range of low-cost vehicles along the lines of the "VW Up", a small, reasonably priced hatchback.

"We do not need to reinvent the wheel for this," he said, stressing that parts from other cars could be used to construct the new range.

"Whether we would market this as a VW, we will have to see," added Osterloh.

Handelsblatt reported that an expert group would present to the VW board by the end of the year a scheme to enter the low-cost car market, one of the few segments of the automobile industry in which the manufacturer is not active.


*Follow Fin24 on TwitterFacebookGoogle+ and Pinterest.

volkswagen
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
27 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

New forms of digital technology are changing the very ways in which entrepreneurs run their businesses.
 
 

6 life hacks you simply have to know

A few simple tricks can make your life so much easier!

 
 

For chic geeks...

Device lets disabled people talk through their nose
It’s THIS easy for someone to steal your ATM pin!
This is why you should install iOS 8
17 photo illusions that look so real

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...