Renault SA is targeting sales of 100,000 vehicles annually in India by the end of 2013 as it launches its first car model in the country since it terminated a joint venture with Mahindra & Mahindra Ltd. in 2010.
The company will bring to the market in New Delhi the Fluence sedan on May 23. It is planning to sell as many as five models by December next year with 100 dealers all over the country, the company’s general manager for India, Marc Nassif, disclosed.
He said that the company will “try to deliver more” and to enhance the visibility of the brand. He also stated that the company will grow “from zero at the moment” to 100,000 by the end of 2013.
The company is aiming to grab at least 5 percent auto market share in India by 2020, banking on the expected growth of local car sales that will more than triple to 6 million annually. The Fluence model will rival Volkswagen AG's Jetta and Toyota Motor Corp.'s Corolla model, according to Nassif.
During the year ended March 31, Toyota recorded 10,707 sales of Corollas in India based on the data from the Society of Indian Automobile Manufacturers. Nassif declined to reveal the model's price before the introduction.
On another note, Pawan Goenka, president of the auto-industry group, disclosed last April 8 that the growth of car sales in India may slow to 18 percent this year starting April 1 because of the rising borrowing costs and higher prices.
Sales rose to 1.98 million, or 30 percent, which is the highest jump in at least nine years, in the year ended March, based on the group’s data.