As the world is rocked by economic turmoil India is still the market, Volkswagen is most optimistic about that's what Managing Director and President Mr Jorg Mueller had to say in an exclusive chat with CNBC TV18.

For Volkswagen India, the recession may well be over. The German carmaker is all geared up to launch its small car Polo in the country thereby entering India's compact car segment. While this segment may be crowded with even foreign players like Hyundai, Ford and Nissan, Volkswagen is not worried.

Mr Mueller said that “The segment of the compact car is minimum 30% to 35% of the share in total market. And we expect this year 1.5 million of passenger cars the compact car is huge importance. He added that the company aims to capture an overall market share of 8% in India, and Polo will lead the volume game strategy. Plans are also underway to further increase this footprint.

Mr Mueller further said that “The recession is over worldwide may be is too early to say, but what we can see in India is a very positive perspective, again last month has been very positive. Also what the analysts are saying the future looks positive. Exactly what these plans are, Volkswagen is not telling. However, it says it is not looking at assembling the Audi 5 series at its Chakkan plant in Pune in the near future. It is also keeping mum as far as the deal with Suzuki goes and says all its energies are presently focused on the Polo launch.

(Sourced from CNBC-TV18)