Czech firm Skoda Auto on Wednesday said India is the most promising growth market and a key contributor as a future export hub in its global expansion plans.
Speaking at the global premiere of its first sub-four meter SUV, Kylaq, here, Skoda Auto CEO Klaus Zellmer also said India's domestic potential as the world's third-largest car market is huge and the introduction of a new model in the domestic market will help Skoda achieve its target of selling 10,000 cars annually by 2026.
Priced at Rs 7.89 lakh, bookings for the compact SUV will open from December 2 while deliveries will commence from January 27 next year, the company announced.
"For Skoda, India is really (an) important (market). Europe is the key market but the strategic focus for Skoda is to build a broader international foundation, which is based on the principle of having two strong pillars. And India, clearly, is our second pillar that we want to build outside Europe," said Klaus.
At the start of this year, the company fixed its investment strategy for India in terms of enhancements for the existing product range, he said.
"But we also announced our intentions to add new products, both in the internal combustion engine and the battery electric world. Today, we are taking the next step into our strategy for India, which is the third-largest car market globally," he said.
Noting that SUVs account for 50 per cent of the total new vehicle sales, Klaus said "we want Kylaq to welcome new customers who are looking in this popular and fast-growing segment." "The Kylaq is our third model that is 'made in India for India' and it represents a significant milestone in our regional sales strategy. By offering an exceptional price-value proposition, a spacious and functional interior, numerous advanced safety features, and superior handling, Kylaq is poised to attract a broad range of new customer groups," said Martin Jahn, Skoda Auto Board Member for Sales and Marketing.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
