Renault Kwid grabs 10% segment share in first month – Report
Posted on: Nov 28, 2015 - 10:44am IST
Inline with Renault India’s growth strategy.
Renault India’s latest launch, the Kwid, is off to a roaring start. Having received over 50,000 bookings since its launch in late-September, a report on the Economic Times states that the Kwid has grabbed a 10 percent share in its segment.
The Renault Kwid is positioned in the entry-level segment, which consists of cars like the Maruti Alto, Hyundai Eon and higher variants of the GenX Tata Nano. Economic Times states that this segment has grown by 0.29 percent in the April-October period, and that it accounts for 26 percent of the overall passenger vehicles market in India.
The Kwid’s success is inline with Renault India’s growth strategy, which aims for the company to achieve 5 percent market share within the next two years. Renault India launched the Kwid and the Lodgy MPV in 2015, though sales of the latter have slowed down to low, triple digit numbers (the Lodgy sold 271, 264 and 300 units for the respective months of August, September and October).
For 2016, Renault India will launch the Duster facelift, which is expected to get an automated manual transmission (AMT), thus debuting Renault’s AMT tech in the country. The AMT will also be rolled out on the Kwid, and in addition, a more powerful 1.0-liter petrol engine will also be seen on the hatchback.
Renault Kwid – Image Gallery
Renault Kwid Interior – Image Gallery
[Source – EconomicTimes]