VW Confirms 2018 Debut for Group of Low-Cost Cars

Volkswagen AG will introduce a new family of low-cost cars in China in 2018, according to CEO Martin Winterkorn.

He tells Germany's weekly Bild am Sonntag the lineup will include a sedan, hatchback and SUV/crossover. He says VW will build the cars locally and price them between €8,000 and €11,000 (55,600-76,500 yuan).

Winterkorn tells the newspaper VW may offer the vehicles in other emerging markets too. Last week the head of VW operations in India said VW will introduce an all-new, locally built entry-level sedan there in 2016.

VW has been working on a new lineup of low-priced vehicles for at least three years. In 2012 Car magazine cited company documents indicating the carmaker was planning to launch a new brand with a trio of cars priced at €6,000-€8,000.