PRAGUE (Bloomberg) -- Skoda says it remains committed to its investments in India, following a report that it's concerned about the country's business environment.
"Skoda won't cut any investments in India" spokesman Tomas Kubik said today. "The company is monitoring the market and is currently focusing on selling premium sedan and limousine versions of its models."
The Business Standard reported today that Skoda is scaling down its future investments because of regulatory and tax issues that burden the business environment in India. It cited Skoda managing director Sudhir Rao.
Skoda, which entered India in 2001, has its own production site in Puna. It sells the Octavia, Yeti SUV, and Superb compact models as well as the midsize Rapid in the market.
Skoda sold more than 187,000 vehicles in India as of the end of 2013, according to Kubik.