Business

Renault zips past 2019 with 8% sales growth

Firm steps on gas with new launches

French automaker Renault India has ended calender year 2019 by selling 88,869 units, thereby registering about 8% increase in volume compared with 2018.

In the first three quarters of 2019, the company sold 19,193 units, 17,605 units and 17,705 respectively.

The last quarter saw a huge jump of 34,362 units, which was 67.92% more than that of corresponding year-ago period sales.

The market share in Q4 was 4.4%. Renault attributed the increase to the introduction of new products such as Triber, Kwid and Duster.

The seven-seater compact MPV Triber was launched in August 2019 and since then, Renault has sold 24,142 units.

Renault India CEO and MD Venkatram Mamillapalle had said they had started exporting Triber to South Africa by the last week of December 2019. The next lot will be shipped by February.

He also said that their mid-term plan of doubling production volume to 1.60 lakh units by 2022 to achieve profitablility was on track.

According to him, a sub four-metre vehicle will be unveiled in the second half of 2020 and an electric vehicle by end-2021 or early-2022.

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Printable version | Feb 26, 2020 10:14:50 AM | https://www.thehindu.com/business/renault-zips-past-2019-with-8-sales-growth/article30472832.ece

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