Renault India aims to launch one model every year

The company expects to breach the 5% market share in the Indian market well before 2017

French carmaker Renault aims to launch at least one model every year for the next few years in India as part of plans to further consolidate its position in the country.

The company, which saw 160 per cent jump in domestic sales at 12,424 units in March, expects to breach the 5 per cent market share in the Indian market well before 2017, which it had announced earlier.

"We have already talked about launching one litre and AMT versions of the Kwid. New Duster has already been launched and going ahead, we plan to launch at least one new model each year in the country over the next few years," Renault India Country CEO and Managing Director Sumit Sawhney told PTI.

When asked to elaborate on the company's plans going forward, he said: "We will continue to bring new products from our global portfolio into the country. We are launching products in the country at regular intervals but we want to ensure that we introduce right products at the right time."

With its recently launched small car Kwid tasting success, the company expects its ranking to improve in the Indian passenger vehicle segment.

"We had earlier said that we will reach 5 per cent market share by 2017. But now looking at the response Kwid has received and March sales, I think we will be able to reach the target this year itself," Sawhney said.

The company stands at fifth position in volume terms in March after posting record sales, he added.

"We are moving in the market as per the plans. It is consistent growth which we are looking to attain here," Sawhney said.

During January-March 2016, the company cumulatively sold 29,289 units as against 11,404 units in the year-ago period, a rise of 157 per cent.

With the company doing well in India, its share has also gone up in the overall global sales of the French company.

"Our contribution (Indian market's) has gone up and we are now the leading players in the region. We are among the top five countries globally for the Renault," Sawhney said.