Renault plans multiple product launches till 2021 in India
The Dollar Business Bureau
French automobile manufacturer Renault plans to introduce at least one new vehicle every year in the Indian market till 2021, comprising vehicles in the high selling sub-four metre division, even as the company aims to cross 5% market share in the local passenger vehicle segment by the year-end.
“We plan to launch at least one new product every year, over the next five years, beginning with some exciting product innovations starting this year,” Sumit Sawhney, Managing Director Operations Country CEO of Renault India told PTI.
The French auto major will keep launching ‘game changing products’ in India as it has been doing over the last few years, he said.
Currently, Renault sells five models in the domestic market including hatchback Kwid and SUV Duster.
“India is an important market for Groupe Renault and it plays a vital role in the company’s global growth. In a short period of time, the presence of Renault has grown exponentially, and it becomes one of the fastest growing and youngest automotive brands and the topmost European brand in India,” Sawhney said.
Over the past few years, Renault has had a dedicated focus on creating a strong base and now its journey in India is taking flight, he added.
Stating about Renault’s performance last year and its future plans, Sawhney said, that the year 2016 has been the biggest for the company in India and its focus for 2017 will be to keep moving and build on its journey of growth, reflecting Renault’s long-term commitment to the domestic market.
According to a data by industry body SIAM, during the period of April-November of the current fiscal, Renault has sold 91,702 units in the domestic market, witnessing a growth of 185.22% compared to same period in the previous fiscal.