French auto major Renault said that the upcoming new brand Captur, which is scheduled to be launched by end of this calendar year, is important for the company to achieve its vision of 5 per cent market share by 2019. The company also said its MPV Lodgy is coming back as demand from the fleet segment is growing.
The company has set a target to close the current year with total sales of 100,000 units in the domestic market.
Renault will be closing this year selling over 100,000 units in the domestic market. Till date (eight months starting January) the company has sold 80,000 units, said Sumit Sawhney, Country CEO and Managing Director, Renault India Operations.
Sawhney said Renault India's target is to capture five per cent market share by 2019 and one of the drivers will be the upcoming premium sports utility vehicle (SUV) Captur, which will be launched by the fourth quarter of the current calendar year.
He said Captur, with a crossover design DNA, will be creating a new segment in the SUV market. Globally Renault has sold over one million Captur till date. The company expects to start producing the vehicle with about 75-80 per cent localisation. Its Kwid has 98 per cent localisation, which is one of the highest in the industry.
Sawhney said the company will be launching at least one product every year and going forward it may also look at sub 4-metre vehicles.
Speaking about company’s MPV Lodgy, Sawhney said in recent months the product started seeing increasing in demand from the fleet owners. The company has been selling around 400 vehicles a month. Renault launched the fleet model Lodgy at the end of last year and hopes the vehicle will be a good fleet car.
Without naming any models, Sawhney said some that were in the Lodgy segment are no more in production which helps the company's product portfolio.