Signature: Skoda launches upgrade scheme
By Our Corporate Bureau | 07 Dec 2004
Hyderabad: German automotive major Volkswagen AG''s group company, Skoda Auto India, has launched an upgrade programme, christened Signature, a buyback scheme to enable existing Skoda owners to upgrade their cars. The programme will complement the company''s plans to launch a range of cars in 2005. The company has also announced that it will make its Indian operations the hub for the region. The launches, scheduled for 2005, will see Skoda India entering new segment categories. The company expects to grow its overall sales by about 50 to 55 per cent next year, riding on these launches. The scheduled launches include a ''C'' segment sedan, the Skoda Fabia, a ''D'' plus segment, the Octavia II, which will be built on a bigger platform, and also a diesel variant of the high-end Skoda Superb. The Superb currently sells about 35 units a month.
Officials say that the company has sold 16,000 cars in the last three years, and now with the launch of the Signature scheme, Skoda owners will be able to upgrade to another car. The scheme allows a dealer to purchase the car, which a owner wishes to exchange, with the amount accordingly being used as a down payment for the upgraded model.
About the company''s plans to convert their India operations into a regional hub, company officials say, that to begin with the company will export to neighbouring countries like Bangladesh and Sri Lanka and only after consolidation of operations, would they consider looking at other markets.
As for the launch order of the new models, Fabia is slated to be first off the block in India, which will also mark the company''s entry into ''C'' segment category in which it has no presence. This would be followed by the launch of the Octavia II by the middle of next year and this in turn would be followed by the launch of a diesel variant of the high-end Skoda Superb. The company''s manufacturing facility at Aurangabad has a capacity to roll out 15,000 cars sin two shifts. However, for the time being, the company plans to focus on a single shift and depending upon volumes, will consider expanding operations.
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