Auto giant Skoda is all set to reposition its Fabia hatchback to make it more competitive with the higher localization and lower cost of owner ship. The development is a part of its plan to garner 4% share in the Indian car market in five years.

Skoda has already identified the service and the cost of ownership as its biggest weakness. The company is also changing its organizational structure as a part of a new strategy devised after a series of meetings with the company chairman at its headquarters in Czech Republic. Skoda will be introducing its new Fabia in 2-3 years. The company is also planning to make or source 80%-90% of its parts in the country.