New Delhi: This new model will be the automaker's first compact family car for the market. Simultaneously, Volkswagen also announced that it would invest about €1 billion in South America.
The investment will mark the company's strong comeback in the Latin American market, following the deep recession in 2013, the company said. The automaker is expected to make huge profits in the 2021 financial year.
The Polo Track has been developed by Volkswagen on the MQB platform, on which many models of the brand have been built. The company has kept other details of the upcoming car a secret and plans to bring it to the Latin American market in 2023. Volkswagen will manufacture the new Polo Track at its Taubate plant in Brazil.
As of now, no information has been received about whether this compact family car will be coming to India soon. However, if the company decides to bring it here, it seems to suit the needs of accommodating a family.
Volkswagen Latin America President and CEO Pablo Di Cie has emphasized that the high level of future investments in the region demonstrates the great importance of the Latin American market for Volkswagen. “This is based on three key success factors: the excellent productivity of our plants achieved through consensus with unions, the outstanding performance of the entire team, and our strong attention to the wishes of Latin American customers,” he said.
In addition, Volkswagen is also aiming to accelerate its transformation into a software-oriented provider of sustainable mobility with these newly planned investments.