New Delhi — European car maker Skoda plans to produce a new mid-sized sport utility vehicle in India, it said on Monday, as part of a €1bn investment by its parent, Volkswagen, to revive sales in one of the world’s fastest-growing car markets. VW also plans to expand its manufacturing unit at Aurangabad in western India and set up a new engineering centre to help raise its market share to 5% by 2025. Skoda’s expansion comes as its German parent embarks on a decentralisation drive aimed at handing responsibility for managing different global regions to its various brands. Skoda’s vehicle sales in India rose 30% in 2017, powered by demand for Skoda Rapid cars as well as Kodiaq SUVs. VW, however, has lagged behind rivals including Ford and Toyota in India despite growing sales marginally last fiscal year. "This year’s sales figures show that customers are very excited about our models.... "It is also true, however, that the Volkswagen group has struggled in recent years to achieve its ...
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