Renault gears up for bigger market share
French auto major Renault will create new segments with its upcoming products, one in every year, to gain a 5 per cent market share in India over the next five years.
- Published 16.10.17
Calcutta: French auto major Renault will create new segments with its upcoming products, one in every year, to gain a 5 per cent market share in India over the next five years.
At present, it has a 4 per cent share in the 3-million passenger vehicles market, which is likely to become the third-largest auto market in the world by 2021.
Like the compact crossover Kwid and the SUV crossover Duster - both segment leaders, Renault will introduce products in the sub-4 metre and above-4 metre categories to address the gaps in its range.
"We are a young company into the sixth year of operation, clocking over a lakh units in annual sales with just three products in our portfolio," said Sumit Sawhney, country CEO and managing director of Renault India operations.
"There is no sense in introducing me-too products. We need to come up with vehicles that will set benchmarks and create new segments just like the Kwid, which was a game-changer for us and the Duster," said Sawhney, who was recently in the city to unveil the Captur, the company's premium crossover SUV.
The company witnessed flat growth in 2017, clocking sales of 86,621 units. It had crossed the one-lakh milestone in 2016 with sales of 1,32,235 units. "We will cross the one lakh figure this year too," said Sawhney.
Having tasted success in SUVs, the company launched its fourth product in this segment that is witnessing 46 per cent growth. "Globally, there is a preference for SUVs and the trend is growing. We have been successful with SUVs with a crossover DNA. Our Captur has sold one million globally in 75 countries," the CEO added.
The company will delay the launch of its second generation Duster to give the Captur its full sales run for a year.