Volkswagen, the German carmaker, is planning to launch a range of low cost cars in China and some other price-sensitive markets in 2018. Though these cars might not get the Volkswagen badge, as the company is reportedly working on to create a new low-cost car brand.
Speaking to a newspaper ‘Bild’, Mr Martin Winterkorn, CEO – Volkswagen AG said, “We will bring a budget-car family to market in 2018, with an SUV, saloon and hatchback,”
Though the company has been planning to launch budget cars for quite a long time, the projects didn’t work out as they couldn’t meet VW’s internal cost targets. Winterkorn further said that the China-bound models will cost between 8,000 euros and 11,000 euros. That said, the company was earlier targeting to price these vehicles between 6,000 euros and 8,000 euros.