Volkswagen's Low Cost Car Brand Will Launch 3 Cars in 2018

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.

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Though Winterkorn didn't disclose other markets the company is looking to launch its budget cars in, we believe India could be among one of those along with other South East Asian markets.

(With Inputs from Reuters)