European automakers are stepping up their game to build a more robust presence in the Indian market. Skoda Auto plans to sell more than 100,000 cars every year by 2026 by targeting young customers with low-priced, feature-packed models such as the Kylaq SUV. Volkswagen, Renault, and Citroen, among other European brands, are also working on strategic positioning and niche products to find a place in the highly competitive market.
Key Highlights:
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Skoda's Ambitious Targets: To achieve 100,000 annual sales by 2026.
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Market Competition: Japanese brands take the top spot with a 51.2% market share, followed by European brands with a paltry 4.3%.
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Strategic Positioning: European brands are focusing on premium features and aggressive pricing to appeal to Indian customers.
Source: The Economic Times