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Last updated: 07 Oct, 2017  

renault-logoTHMB.jpg Renault looking at 5 pc market share in 3-4 years

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SME Times News Bureau | 07 Oct, 2017
French carmaker Renault is looking to achieve five percent share of the Indian passenger car market in the next three to four years, a company official said on Friday.

"We want to achieve five percent market share in the medium term i.e. in next three to four years. Now our market share is close to four percent," company's Country CEO and Managing Director Sumit Sawhney said Kolkata on the sidelines of the unveiling of the new premium SUV Captur.

Last year, the carmaker was the seventh largest player in the passenger car industry in India and is maintaining the same position this year, he said, adding that it is developing its portfolio in India.

Currently, it is selling three cars -- Kwid, Duster and Lodgy -- in India.

The price of the newly-unveiled car would be announced some time this month and deliveries would start from next month onward, he said.

The carmaker has the intention to have "localisation" in manufacturing the new premium SUV "close to 80 percent".

Industry-wise, the SUV segment grew by 46 percent this year in India, he said.

He said, as a strategy, the carmaker planned to launch one car every year and future launches would be made in the "less than four metre" segment and higher than "four metre segment".

"In India, almost 70 percent of the cars sold in India are less than four metres. So, one has to launch cars in this segment...."

"What we will try to bring would be products more than and less than four metres but these products should have innovation. They should have a potential to either create a new segment or redefine a segment," Sawhney said.

He said the carmaker has the capability to manufacture electric cars and wants to understand the policy for them.
 
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