French car maker Renault is looking to more than double its India market share to 5% from the current 2% in two years with new launches and capacity expansion.
Renault is set to launch its Lodgy multi-purpose vehicle on Thursday, which it hopes would recreate compact SUV Duster’s succes s. Lodgy will compete against segment leader Toyota Innova, apart from Maruti Ertiga and Honda Mobilio. The segment has seen strong sales despite the overall slowdown in the car market.
Renault is also set to launch a small car later this year to take on India’s top car maker Maruti Suzuki.
“Both these launches are expected to help us more than double retail sales in 2015,” Sumit Sawhney, country CEO and MD, Renault India Operations, told HT. In 2014, Renault sold 49,000 units in India.
Sawhney said Lodgy will be among the most fuel efficient vehicles in the segment, and also the most powerful. The company is also eyeing a double-digit market share in the hatchbacks segment. Renault, which currently has 157 sales outlets and 135 service stations, expects to scale it up to 205 each by the year end.