Renault India's new entry level hatchback Kwid has managed to get 50,000 bookings within five weeks of its launch.
The company is betting big on Kwid to capture around 5% market share from the current 2%.
Kwid was launched on September 24 this year to take on Maruti Suzuki's Alto and Hyundai's Eon. The SUV-styled car has managed to attract customers thanks to its aggressive pricing at Rs 2.56 lakh to Rs 3.53 lakh.
Earlier, Sumit Sawhney, Country CEO and Managing Director, Renault India Operations had said that prices were introductory and might change later.
The product was launched with 98% localisation, which helped the company price the product competitively.
Renault has also taken up new initiatives including virtual showrooms, mobile show rooms, mobile workshops and others to reach out to new customers, especially in tier II and III towns. Kwid is being showcased across 47 cities in the country.
Made-in-India Kwid will also be exported in South America, Africa and other emerging markets starting next year.