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Renault announced a new investment in India and expecting higher Sales

ByVarsha Sharma|Updated on:14-Jul-2023 10:11 AM

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ByVarsha Sharma

Updated on:14-Jul-2023 10:11 AM

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Renault and joint venture partner Nissan recently announced a new investment in India and expecting higher sales.

Renault announced a new investment in India and expecting higher Sales

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Renault and joint venture partner Nissan recently announced a new $600 million (INR 53 billion) investment in India as a part of their business transformation. The duo is planning to launch six models from the middle of this decade.

Renault sales in India in 2022 fell 9% year on year to 87,118 units. The company currently sells the small car Kwid, the entry-level SUV Kiger and the MPV Triber in India.

French automaker Renault, which has renewed its operations in India over the past few years and has discontinued lower-end models such as the Captur and Duster, said it expects sales in the market to decline.

Renault India managing director Venkatram Mamillapalle said that while sales are expected to remain stable this year, the company will start selling from 2024. “We will continue to improve our existing systems until new products are released (as the market changes).

Renault announced a new investment in India and expecting higher Sales

Creta, Kia Seltos, Maruti Suzuki Grand Vitara and Toyota Hyryder Japanese automaker Honda introduced the Elevate, which is expected to go on sale before the holiday season this year.

However, Renault said "We're trying to go the same way as we go with the powdery stuff. We're going to go there with a lot of new stuff",Renault could make a mark in this racing segment despite the final result of late entrance.

Overall, the new car is planned as part of Renault-Nissan's business transformation, which includes two hybrid vehicles and one electric vehicle (EV) for each type. Renault plans to mass market its electric car, and companies will manufacture it locally to keep costs under control.

The pace of EV adoption will depend on consumer demand and government efforts to develop the EV ecosystem, which includes establishing a network of charging stations. “By 2030, about a third of our sales will come from electric vehicles.”

Besides local sales, Renault plans to use India as a base to expand its exports to the country. Currently Renault exports Kwid, Kiger and Triber to 14 countries in SAARC, Asia-Pacific, Indian Ocean, East Africa and South Africa.


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