Plans two new launches next year.
Following Maruti Suzuki is Renault India, which too announced a price increase today. Renault India, vice president, sales and marketing Rafael Treguer said that the company managed to bear with the input costs so far but the "challenging market has compelled them" to hike the price in order to manage the rising input costs.
Prices of its entire range of vehicles will be increased by up to 2.5 per cent. This increase will be effective from January 1, 2015.
Mr. Sumit Sawhney, CEO and Managing Director of Renault’s Indian operations, had previously announced that company has plans to launch two new products in 2015. First up is Lodgy, a Dacia-based people carrier which is expected to be priced between INR 7-10 lakhs. Its a seven seater MPV which rivals the likes of the Maruti Ertiga, Honda Mobilio, Mahindra Xylo, Chevrolet Enjoy and Nissan Evalia.
The second one is an entry hatchback with an exciting package with unique design cues. The XBA (codename) small car will slot below the Pulse to become the most affordable Renault in the country expected to be priced between INR 3-4 lakhs. It will take on competitors like Maruti Alto, Hyundai Eon and Chevrolet Spark.
Renault India is targeting a market share of 5% in the next three years and is planning to achieve this by introducing new products and expanding its dealership network.