In an effort to garner 5 per cent of market share in the next three years, French carmaker Renault will enter volume segments with the launch of a multi-purpose vehicle and a sub Rs 4 lakh car next year.
“We are confident of crossing 5 per cent market share on the back of launch of two new models in the volume segment next year — an MPV and a sub 4 lakh car,” said Renault India Country CEO and Managing Director Sumit Sawhney.
Explaining company’s move for the volume segment Sawhney said both the MPV and small car would help Renault get volumes as both the segments are poised for growth in the Indian market. While sub Rs 4 lakh car is code named ‘Entry’, the MPV is named as ‘lodgy’
“MPV segment will see a sharp growth in the next three years as inter-city travel would increase with the improvement in road infrastructure and due to the coming up of the 100 new smart cities,” he opined.
With India expected to be the third largest automobile market in the world, presence in the small car segment in the country is very very important for the company, Sawhney said.
“For sure, the sub-Rs 4 lakh car would be a completely new product and the work is already on,” he added. The capacity of Renault-Nissan alliance plant in Chennai has been increased to 4.8 lakh units per annum from the earlier capacity of 4 lakh units keeping in mind the future requirements, he added.
The company on Wednesday launched an all-wheel drive (AWD) version of mid-sized sports utility vehicle Duster, priced between Rs 11.89 lakh and Rs 12.99 lakh (ex-showroom Delhi), has a market share tad over 2 per cent in 2013.