Companies

Volkswagen eyes 15% CAGR in next 5 years

PTI Kolkata | Updated on February 15, 2011 Published on February 15, 2011

Mr Neeraj Garg, Volkswagen Group Sales India Director. (file photo)   -  Business Line

Volkswagen India is eyeing at an annual growth rate of 15 per cent in the next five years, a senior company official has said.

“Last year, we sold around 32,000 units across all models of Volkswagen in the country. This year, we intend to sell more than 50,000 units. That is on the conservative side. We intend at a compounded annual growth rate (CAGR) of 15 per cent in the next five years,” the Volkswagen Group Sales India Director, Mr Neeraj Garg, said at the opening of the company’s second dealership in the city.

He said that the two-volume segment cars, Polo and Vento, are driving the company’s sales. Since 2007, the company already has seven models in the country.

By 2018, the group as a whole intends to capture 20 per cent of the passenger car market in India. He said that the company is also increasing its dealership across the country. Right now, it has 70 dealers across 57 cities.

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Published on February 15, 2011
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