Volkswagen group company Skoda Auto India on Thursday launched luxury sedan Superb and said it aimed to break even in 2005 by selling 10,000 cars and launch new models on four product lines till 2008.
The company expects to post 50 per cent sales growth in 2004 at about 8,000 units.
Asked how much it has invested in its Indian operation, he said, "I cannot tell you the exact figure, but we have already crossed the mandatory $56 million."
The Foreign Investment Promotion Board had asked the Czech carmaker to invest at least $56 million within seven years from 1999.
Skoda India will bring the diesel variant of Superb by year-end and hopes to sell 500 units this year.
To support the sales of the new car, the company will increase the number of dealers from 35 to 40 this year.
Though Skoda India had already started exporting cars to neighbouring countries like Sri Lanka and Nepal, Hassen said the export numbers were marginal.
The Indian arm of the Czech carmaker sold 4,656 units last year, but suffered five months of production loss as it shifted production base to completely knocked down operations from semi knocked down.
Skoda Auto India has started producing cars at its new greenfield facility in Aurangabad from early this year for which it has already hired a workforce of about 300 people.
The new plant will have a production capacity of 15,000 cars per year.
Earlier, Skoda India used to assemble the premium sedan Octavia at a makeshift facility in Aurangabad.
The new plant is part of the $56 million investment the company had to make in India.