German car maker Volkswagen Friday said it would launch its premium hatchback Polo in India by early next year and that its sedan version would hit the market a few months later.
"The company is looking at an 8-10 percent market share in four-six years," Jochem Heizmann, member of Volkswagen's board of management, told reporters on the margins of the annual convention of the Society of Indian Automobile Manufacturers (SIAM).
He, however, declined to divulge any details about the car's price.
Volkswagen currently sells its Passat and Jetta sedans in India as well as the premium Phaeton and sports utility vehicle Touareg.
The new Polo will be positioned to compete against the likes of Maruti Suzuki Swift and Hyundai i10.
The company has two assembly lines in Pune and Aurangabad, both in Maharastra. Polo will be manufactured at the company's new Chakan plant near Pune where the company assembles Passat.