New Budget Brand Coming From Volkswagen
Volkswagen group has a lot of brands under its belt. From the high-priced, uber-luxury Bugatti to the more affordable (but still pricey at times) Volkswagen. Soon it will have a new budget brand to add to the mix. VW Group Chairman Martin Winterkorn confirmed the news during a recent interview with German newspaper, Bild. This new brand, which doesn't have a name yet, is set to launch in 2018, targeting budget-conscious families. The initial range of vehicles will include an SUV, a sedan, and a hatchback. All three will be produced in China, which is the target market for these new cars. This will mark the VW Group's 13th brand. RELATED: See The 2011 Volkswagen Snowareg
According to Motoring, pricing will be from $11,500 to $15,900. The budget brand will figure heavily in the company's expansion plans. Although initially set for sale only in China, if successful, it could roll out across Europe, India, and Latin America.
The idea of launching a budget car brand is nothing new for Volkswagen. It has long been planning the project, but couldn’t meet VW’s internal cost targets. It looks like they’ve finally made the numbers work and are moving forward with their low-cost brand.
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