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Business

Volkswagen Unveils Low-priced Car

German automaker Volkswagen on Friday unveiled the Fox, a small-sized car that will sell for under 10,000 euros ($13,000) and enable VW to compete in a growing market for low-priced vehicles. In its basic version the Fox will sell for 8,950 euros. It is to be manufactured in Brazil and is scheduled to go on sale in Europe at the end of April, Volkswagen said at an auto show here. The Fox will compete with the Logan, offered by French automaker Renault, as well as Panda from Fiat of Italy and Ka from US manufacturer Ford. Peugeot of France and Toyota of Japan have also teamed up to develop a low-cost small car, known under the names C1, Peugeot 107 or Aygo.

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