French carmaker Renault on Wednesday said it hopes to garner a marketshare of at least 5% in the domestic market within the next 3 years.
The company wil launch two new products— a small utility vehicle called Lodgy and a compact car priced below Rs. 4 lakh — to acheive the target.
The small car will be based on the Renault Nissan Alliance’s CMF-A (common module family-affordability) platform that was envisaged last year to help the two companies design and sell specific cars for emerging markets like India.
“We have a very clear roadmap ahead of us to achieve 5% marketshare in 24-36 months in India,” said Sumeet Sawhney, chief executive officer and managing director, Renault India.
“Next year, we will bring in a utility vehicle and a sub- Rs. 4 lakh small car that will be mass market products. Our market share in 2013 was 2.2% but we should be able to achieve our target with these two new cars.”
The company also launched an all wheel drive version of its bestselling SUV Duster at Rs. 11.89-12.99 lakh (ex showroom Delhi) on Wednesday.
With cumulative sales of over 100,000 units since it was launched in mid-2012, Duster is Renualt’s only car that has received some success in the Indian market.
However, Renualt is not keen on rebadging. “We have already decided not to rebadge the products. Indian consumers are not very forthcoming for cross-badged products,” Sawhney said.
Its other offerings including the Pulse, Scala, Fluence and SUV Koleos have not been fared well in the domestic market.