With eye on business turnaround in India, Renault plans to launch five products in next three yrs

New launches will include entirely new models and next generation of its Kiger & Triber cars. The new range will also be equipped with more features 'without adding to the cost'

Renualt India's CEO and MD Venkatram Mamillapalle speaks with the media at a launch event in New Delhi, India | Reuters

New Delhi: As part of its strategy to turn around its business in India, French carmaker Renault plans to launch five products here over the next three years while also equipping its cars with newer features to help it achieve double-digit growth in sales in 2024, Renault India Operations Country CEO & Managing Director Venkatram Mamillapalle told ThePrint.

Mamillapalle said due to challenges such as lack of product updates and poor dealer health, 2023 was a challenging year for the company. Renault’s sales in India stood at 49,000 units in the domestic market for the three vehicles it sells — Kwid, Kiger, and Triber.

Asked if the company will see a positive growth trend this year, Mamillapalle said: “Yes, definitely…We are refreshing our current product range. We are adding new features as well without adding to the cost. We are eyeing double-digit growth this year”.

The five product launches will include entirely new models and the next generation of Kiger and Triber.

On Tuesday, Renault introduced five new variants across its three models. “The new range comes equipped with more than ten new features, between the three models,” Mamillapalle said.

Asked if the company will continue to sell Kwid in the domestic market with the entry-level car segment witnessing a dip in sales, he said: “As long as regulations don’t stop us, we will be there in the segment, we will continue to sell in that segment”.

He stressed that the company has been able to add new features and technology to the new variant line-up at no additional cost by focussing on efficiencies to reduce costs as well as negotiations with suppliers. 

“We did all these activities for the last year and no doubt we have results today,” he said, adding that this move will not reduce the company’s profitability.

“Whatever savings we made from optimisation… our engineering team in India and the purchasing team in India… We are passing 100 percent to the customer. That’s all we are doing. There is no erosion of our profitability, nor any deterioration in quality,” he said.