Volkswagen AG will roll out the new Up! city car next month to tap growing demand for small, fuel-efficient vehicles as Europe's biggest automaker aims to claim the industry's top global sales position.
The Up! will be unveiled September 12 at the Frankfurt auto show and go on sale in Europe in December, VW said yesterday in an e-mail.
The four-seat model, which will compete with Toyota Motor Corp.'s Aygo subcompact and PSA Peugeot Citroen's C1 mini, will cost about 9,500 euros (Dh50,200), said a person familiar with the product who declined to be identified because the price has not yet been officially announced.
The Up! will be the first VW brand car built entirely from scratch to come to market under Chief Executive Officer Martin Winterkorn's leadership.