It seems that no matter how much we talk about the Chinese market these days – which is often – we never seem to breach far beyond the considerations of the country’s wealthiest, most luxury-hungry denizens. Most outlets, it seems, would have you believe that the average Chinese family rakes in Howard Hughes amounts of cash, and puts those moneys toward nothing more pedestrian than a Mercedes-Benz S-class.
But of course, China is a big country, and the luxury car market is far from the only one of opportunity – though the high margin may incentivize it more than others. That’s why there is a new Volkswagen budget car family headed for China, with a possibility of coming to other markets, as well.
According to Reuters, Volkswagen AG CEO Martin Winterkorn spoke to German newspaper Bild am Sonntag, stating the following: “We will bring a budget-car family to [China] in 2018, with an SUV, saloon and hatchback.” Winterkorn further claimed that this Volkswagen budget car family would range in price from about €8,000 to €11,000 – or roughly $8,900 to $12,400 US – and will be built within China’s own borders.
Reuters reports that the automaker had wanted for years to introduce a family of Volkswagen budget cars, but encountered difficulty in matching its original target price of €6,000 to €8,000. In divulging the news to Bild am Sonntag, Winterkorn concluded by saying that Volkswagen “will see if this is something of interest for other markets as well.”