SKODA plans expansion in India with new models, local partnerships
SKODA, the Czech automobile manufacturer, is eyeing India as a pivotal market for its future growth, according to PTI. The company's global CEO, Klaus Zellmer, has revealed plans to nearly double sales volume in the country by introducing new models and potentially forming partnerships with Indian manufacturers. Recently, Zellmer stated that India is a crucial market for the brand's growth strategy.
SKODA's new compact SUV for India market
SKODA is gearing up to launch a new compact SUV in India early next year, aiming to capitalize on the country's popular SUV segment. This initiative comes as the Indian passenger vehicle market witnesses a surge in annual sales, making it an enticing target for SKODA. SKODA's latest decision follows its recent withdrawal from Russia and stagnation in China, indicating a strategic pivot toward promising markets like India.
Embracing customer-centric approach by ramping local production
SKODA is shifting its focus toward a more customer-centric approach in India, which includes ramping up local production to offer competitive pricing. Zellmer acknowledged that the company may have previously over-engineered their cars, but is now committed to finding the balance between quality and affordability. This strategy aims to cater to preferences of Indian customers.
SKODA contemplates partnerships with Indian manufacturers
While considering operating independently in India, Zellmer also recognizes potential benefits in partnering with an Indian automotive manufacturer. Such a partnership could offer valuable insights into the Indian market and buyers' choice. Discussions are already in progress to establish an equity partnership that would be mutually beneficial. With this move, SKODA aims to understanding and integrate into the local market dynamics.
Expanding sales network, exploring EV segment
SKODA Auto, a part of the Volkswagen Group, is actively expanding its sales network in India with an aim to reach 300 touchpoints by the 2024 ending. The company is also exploring opportunities within the electric vehicle (EV) segment and considering introducing its Enyaq model.
