Mumbai: French carmaker Renault SA plans to double its annual sales volume in India to 150,000 vehicles by 2022 by introducing four products including two new vehicles.
According to the company’s mid-term plan, the new vehicles will allow Renault to cover at least half of India’s passenger vehicle market in terms of product offerings, up from 24% currently, said Venkatram Mamillapalle, Renault India’s new chief executive and managing director.
“As part of our product-offensive plan, our investments in new products to be launched in 2019 and 2020 will create new segments, which will set the platform for doubling our sales volume to 150,000 units annually in the medium term and achieve break-even as per our mid-term plan," Mamillapalle said on Monday. He took charge in March after serving as the head of Renault-Nissan-Avtovaz purchasing organization in Russia.
Mamillapalle said his three key priorities are aligning the various entities under the Renault-Nissan alliance in India towards a common goal, implementing customer-first approach and drive profitability.
“One-team, one-ambition is to get these organisations aligned as one-team to walk us through our portfolio to profitability. That’s exactly what I am trying to do," he said.
In addition to the two new vehicle models, Renault plans to launch facelifts of its two bestsellers in India—the Kwid hatchback and the Duster SUV later this year.
The new models are a multi-utility vehicle called Triber and a compact SUV. While Triber is scheduled later this year, the small SUV will be launched next year.
“We need to double the volumes and our existing market share by 2022 with a proper product line up. It is on target with the Triber and the HBC (code name of compact SUV). HBC will fetch volumes that will justify our mid-term plan by 2022. Additionally, we will bring out facelifts of Kwid and Duster later this year. These four products should lead us to the mid-term plan and profitability," Mamillapalle said.
He said driving Renault dealerships to profitability is another key focus area for him.
“They are not sad. I will not say they are happy. I need to make them profitable to make them happy and I am working on that," he said. Renault has 120 dealer principals, which together represent a pan-India footprint of about 350 outlets.