VW considers ’people’s car’ for new markets, by James Mackintosh
Sunday, June 12, 2005
Volkswagen is considering going back to its roots as the maker of Germany’s “people’s car” by building a ?3,000 ($3,700) vehicle for emerging markets.
The carmaker, which became Europe’s largest through the success of the low-cost Beetle, set up a team to examine how to make a car for ?3,000 a year ago, insiders said. But the company has not yet decided whether the “3K Project” will go ahead.
The project is part of a move by developed-world carmakers to produce cheap cars for developing countries, with Renault’s Romanian-made Dacia Logan leading the attempt.
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Source: Financial Times