WORLD> Europe
Car giants battle for market share at Geneva show
(Agencies)
Updated: 2009-03-04 11:12

Toyota, the world's top selling car maker, aims to increase its market share in Europe in 2009 with the help of models launched in Geneva -- new versions of the Prius hybrid saloon and the Verso people carrier.

An Audi S5 convertible car is displayed during the first media day of the 79th Geneva Car Show at the Palexpo in Geneva March 3, 2009.[Agencies] 

Toyota will face stiff competition from Volkswagen, Europe's biggest automaker, which announced Monday that it aims to perform better than the sector as whole this year.

VW reported a strong 15 percent gain in 2008 net profit to 4.75 billion euros (6.0 billion dollars) but declined to give financial guidance for 2009 and warned of tough times ahead.

In Geneva, the company launched a revamped sub-compact Polo, its most popular model after the Golf, with 10.5 million units sold since 1975.

The German firm is making big claims about the car's thriftiness, claiming that it will be most the economical five-seater on the market.

"The group's future is green," chairman Martin Winterkorn said in Geneva, stressing that "demand for environmentally friendly mobility is not a fashion fad."

India's Tata, which said it is aiming to market its low-cost Nano model in Europe in 2010-2011, showed an electric version of its Indica, to go on sale in Norway in September.