Renault, the major French car manufacturer is planning to take hold of 2.5% market share of the local passenger car segment for its Indian subsidiary by the end of 2013. And as per its official announcement, the company is very keen to enhance the stake to 5% in the coming future.
On the recent proclamation about the stake hold by the company, Renault India Vice-President (sales and marketing) Len Curran stated, “By 2013, we are eyeing a market share of 2.5 per cent, and five per cent in the long term.”
The Vice-President of Renault was in the city of Kolkatta for the launch of its luxury sedan ‘Renault Fluence’ and at the same moment he expressed that the company will be unveiling five new car models in 2011 and 2012 as well and there would be one compact model from the hatchback segment.
He further added in his statement, “We are also looking at the LCV market in India. Also we are not late entrants into the Indian car market. It is the right time to make an entry.”
Mr. Len Curran holds the view that Indian market is pretty fast evolving with time and it stands at number two. And for Renault India is regarded as the second largest manufacturing hub in Asia after South Korea.