French auto maker, Renault will soon be launching their second model in India, since re-entering the market. Their second product the SUV Koleos will be launched in October. By next year, Renault will launch an additional three models in India.
The company’s VP of marketing and sales, Len Curran was quoted as saying that they will introduce the Koleos SUV in October, 2011, and they will introduce three more models in 2012. They want to increase their market share by 2.5% till 2013. India is one of Renault’s three strategic countries. He added that they need to have at least 5% market share in India, if they want to be a competitive player. That is their plan for the long run.
Curran also said that the Indian auto market is nearing towards the premium products in the European market. They are looking at an opportunity for launching LCV’s in India. Nissan and Renault have a Greenfield manufacturing plant in Chennai through an alliance. Curran said that this was the first Greenfield manufacturing plant for the Renault Nissan alliance. This plant has a capacity of producing 40,000 models per annum, and had a total investment of Rs.5,000 crore.