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Volkswagon aims for 'budget' cars costing between 5,000-10,000 euros within 2 years

AFP
October 6, 2012, 12:10 am TWN

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FRANKFURT -- Europe's biggest carmaker, Volkswagen, said on Thursday it was considering selling “budget cars” for as little as 5,000 euros (US$6,500) in emerging markets “within two years.”

“We need a cheap car for the emerging markets ... that would cost between 5,000 and 10,000 euros,” the head of the works council representing the firm's employees, Bernd Osterloh, told the business daily Handelsblatt.

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