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Czech Republic based Skoda Auto is planning some investment for its Indian unit Skoda Auto India. The Volkswagen Group-owned brand is keen to deeply focus on its presence in India. This strategy is being enforced by the company for capturing growth and also to add more volume to its global aim of achieving 1.5 million units sales target by 2018.
Further the brand is also planning to make an investment of more than Rs. 300 crore in Indian operations for enhancing its production output. Apart from increasing localization, Skoda is even making plans to come up with new product portfolio in order to confront good business in India.
One of the board members of Skoda Auto, managing sales and marketing, Mr. Juergen Stackmann stated, “Indian auto market is very important for us and for handling our future growth plans along with its cross-functional tasks, it is very significant to have a corresponding management structure.”
The Managing Director of Skoda India, Mr. Sudhir Rao said, “India is one of our major strategic pillars for the future growth. We want to establish a strong structure in the country so that the same can be applied to other major markets as well for managing future success.”
According to a statement issued by Skoda Auto, the major part of the fund will be utilized for localization of production along with enhancing the production capacity of firm’s Aurangabad unit. Auto experts exclaim that though Skoda has made great wonders in embedding its strong presence in the country’s premium end car market but it needs to execute on its pricing in order to draw more customers.
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