The company has been saying it would introduce the new car and it would be priced below Fabia, the range for which starts at around Rs 500,000. Other models of the company in India are Laura, Octavia and Superb.
Skoda India launched on Wednesday an exclusive showroom at Faridabad in the National Capital Region. Besides, to expand its product portfolio in the domestic market, the company would launch two new models next year, apart from introducing new variants of the existing cars.
Czech automaker Skoda is planning to introduce as many as eight models in the next five years to make India amongst the top-five of its global markets.
Luxury segment auto player, Skoda India, on Monday said that it will increase prices of all models by Rs 10,000 to Rs 25,000 from August 1. The company sells models like Fabia, Octavia, Laura and Superb in the price bracket of Rs 4.5 lakh (Rs 450,000 to Rs 22 lakh (Rs 2.2 million).
The yet-to-be-named car, which will be priced in the Hyundai i-10 price bracket, had crossed the feasibility study stage and was in the final stages of design. "Cars below Rs 5 lakh constitute nearly 80 per cent of the total Indian market. India is predominantly a small car market and we have a clear strategy to grow in the Indian market," Thomas Kuehl, member, board of directors (sales and marketing), Skoda India.
It was only an exterior launch, not the actual car, but what he saw left Rediff.com's Rajesh Karkera hugely impressed.
Right now, the 'Lower D' or LD segment -- which the industry defines as a sedan that costs between Rs 1.5 million and Rs 2 million, is longer than 4.5 metres, and powered by an engine of 1.8 litre or larger -- has barely three cars, all of which have been around for over a decade in India. Nevertheless, at least one foreign auto player is looking to bet big on the segment.
The new Tata Tigor, Datsun Go and Hero Xtreme 200R are hoping to use celebrity endorsers and gain a foothold in a segment that has been the stronghold of market leaders for several decades. But will it work?
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