French car major Renault plans to launch at least one new product every year in India till 2021, including vehicles in the high selling sub-four metre segment, even as it aims to get past 5 per cent market share in the domestic passenger vehicle category by the year-end.
"We plan to launch at least one new product every year, over the next five years, beginning with some exciting product innovations starting this year," Renault India Operations Country CEO and Managing Director Sumit Sawhney told PTI.
The company will keep adding "game changing products" in the country as it has done over the past few years, he added.
"Whatever be the product from Renault, it will be a game-changer which will redefine the segment, or create a sub-segment," Sawhney said.
The company currently sells five models in the country including SUV Duster and hatchback Kwid.
"India is a priority market for Groupe Renault and plays an important role in Renault's international growth. In a short span of time, Renault has grown its presence exponentially, becoming one of the youngest and fastest growing automotive brands and the number one European brand in India," Sawhney said.
Over the last few years, the company has had a single-minded focus on establishing a strong base in India and its journey in the country is now taking flight, he added.
Commenting on the company's performance in 2016 and the way forward, Sawhney said: "2016 has been the biggest year for Renault in India and our focus for 2017 will be to continue and build on our growth journey, reflecting our long-term commitment to the Indian market." As per SIAM data, Renault has sold 91,702 units in the domestic market in the April-November period of this fiscal, a growth of 185.22 per cent over the same period previous fiscal.
In terms of our network reach, the company grew from 205 to 270 facilities in 2016, making it one of the fastest ramp ups in the automotive industry.
"We will continue to build our network next year as well, with strategic measures to make our cars more accessible to customers across the country," Sawhney said.
From an industry point of view, the company surely looks forward to intermittent pro-business policy decisions, such as the vehicle scrappage policy, finalisation of GST rates and other proactive measures which will give a further fillip to the automobile industry, Sawhney said.
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