Skoda Eyes Up To 10 Per Cent Growth In 2018

Skoda Auto India, a part of Volkswagen Group, is looking at a growth rate of 8-10 per cent in 2018 and continue to operate in the premium segment as apart of its short-term strategy, a company official said today. The company is also eyeing the volume segment for which an evaluation process is underway, the official said.

"In 2017, the company sold 17,436 units, a growth of 30 per cent over 2016. In 2018, we are looking at a growth rate of 8-10 per cent," Ashutosh Dixit, director (sales and marketing) of Skoda Auto India said. Dixit said that lower growth rate projection this year is due to higher base of sales numbers in 2017.

The Czech automobile maker said it was feeling the pinch of imposition of five per cent customs duty in the budget on imported components. "We import a lot of auto components from outside India and the duty has pushed up costs on an average by 3-4 percent," he told reporters here today.

The company has raised prices by one per cent so far. "Plans are there to raise up to four per cent in phases," he said.

To a query, he said that sales has not been affected as such as competition also faced the same duty imposition issue which pushed up costs.

On electric vehicles (EVs), he said that Skoda is ready with the prototype and would launch in India when the right infrastructure is in place.

"At present, Skoda will operate in the premium segment as the pie is growing,"

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)