India broke into the top-10 markets for French car maker Renault last year after its new Triber vehicle got a healthy reception from buyers. While most auto companies are targeting upgraders, Renault has decided to retain focus on the mass market with a new SUV and an electric vehicle in the next two years.
India overtook South Korea to grab the 10th place in 2019; it has jumped four places in global rankings in the past 24 months. The maker of Kwid was the only company that posted growth of 8% last year in India, a market where sales registered a double-digit decline. The company sold 88,869 vehicles in India last year.
“We have a clear objective to accelerate our expansion in India by doubling our annual sales volumes over the next couple of years,” said Venkatram Mamillapalle, country CEO of Renault India.
India accounted for 20% of Renault’s Africa-Middle-East-India-Pacific market and was the saving grace for the company as the region registered an almost 20% decline in 2019.
To be sure, India’s share in the region declined to 20% from 25% over the past few years. However, with incremental volumes expected from the upcoming sub-compact SUV HBC in 2020, the company not only expects India to improve its share in the region, but also see a jump in rankings and vie for a top-five position.
“We are working hard to ensure that India continues to consistently contribute to Renault’s international growth ambitions,” Mamillapalle said.
Renault also uses India as an export base for cars and parts for Latin America, Africa and Southeast Asia. The company ships millions of dollars of Kwid hatchback parts to Latin America.
The Triber MPV has been shipped to South Africa and Indonesia will likely be added in 2020.