India scored into the top-10 markets for French automaker Renault in 2019 after it's all-new Triber received a great appreciation from customers. While most auto companies are targeting upgraders, Renault has decided to retain specialize in the mass market with a replacement SUV and an electric vehicle within the next two years.
India overtook South Korea to grab the 10th place in 2019; it's jumped four places in global rankings within the past 24 months. The maker of Kwid was the sole company that posted growth of 8% last year in India, a market where sales registered a double-digit decline. Renault managed to sell 88,869 pieces in India in 2019 only.
“We have a transparent objective to accelerate our expansion in India by doubling our annual sales volumes over the subsequent few years," said country CEO of Renault India, Venkatram Mamillapalle.
India is responsible for a massive 20% of Renault's Africa-Middle-East-India-Pacific car market share and was a boon for the corporation as the area registered at least a 20% decrease in 2019 alone.
To be sure, India's share within the region declined to twenty from 25% over the past few years. But, with ascending numbers predicted from the new sub-compact SUV HBC this year, the corporation not only foresees India to increase its chunk of the market in the region but also gets a better ranking and fight for the top positions.
“We are working hard to make sure that India continues to consistently contribute to Renault's international growth ambitions," Mamillapalle said.
The carmaker also uses India as a center to export cars and auto-parts for South America, Africa, and Southeast Asia. The company ships many dollars of Kwid hatchback parts to Latin America.
Now, the Triber MPV has already been sent to South Africa and Indonesia which will likely be summed up this FY.