Renault expects a 20% additional growth in sales in CY24
The Hindu
Renault is planning to grow its India business by an additional 20% in 2024 to compensate for the slow growth it saw in the country in the earlier year, the French automaker said on Monday.
Renault is planning to grow its India business by an additional 20% in 2024 to compensate for the slow growth it saw in the country in the earlier year, the French automaker said on Monday.
“This calendar year versus last year we are looking at an additional growth of 20%,” Venkatram Mamillapalle, Country CEO & Managing Director, Renault India, told The Hindu. “Renault last year saw low volumes and the reason could be that we haven’t refreshed the products. But this year we have added a lot of value and safety features to our Kiger, Triber, and Kwid models and want to reach them to customers without extra cost,’‘ he added.
The new 2024 Kwid range, including Kwid Climber available in three new dual-tone exterior body colours, comes with 14 safety features as standard; the new 2024 Triber range offers better comfort and additional features such as a driver seat armrest and powerfold outside rear-view mirrors (ORVM) while the new 2024 Kiger range offers a premium experience, as per him.
Commenting on the market outlook Mr. Mamillapalle said, SUVs were on a growth mode while sales of small segment cars was drastically declining. “Reasons could be multiple why small car sales are on a decline. People’s buying power has increased and used upper segment cars are playing a role in the entry segment instead of small cars,” he commented.
He further said, there was significant traction for SUVs in general and C and A segment in particular while new entrants, the EVs have already made a foothold in the country and their size was expected to grow in the next three to four years.
It may be recalled that a Renault-Nissan alliance announced a new investment of ₹5,300 crore in February last year to expand Renault’s product portfolio in the country by launching six new vehicles from its factory in Chennai in three years.
“We have started investing this committed money on the ground. Development has started already thanks to support from the Tamil Nadu government. We are on track with our launches,’‘ he added.
xAI’s Grok may soon come to an iOS app as the company announced its Series C funding round of $6 billion.
Biocon and Zentiva receive EU approval for Liraglutide, a complex formulation for diabetes and weight management.
Equity markets fluctuate as Sensex and Nifty rise initially, then fall; global markets and oil prices also discussed.
Microsoft has been working on adding internal and third-party AI models to power Microsoft 365 Copilot.
China's dominance in critical minerals poses supply chain vulnerabilities for India, US, and EU nations, requiring strategic diversification efforts.
India's controversial popcorn tax system sparks outrage and criticism, with opposition questioning the complex GST rates.
ICAI President investigates auditing lapses at Byju's, disciplinary committee probing, details undisclosed, part of ongoing investigations.
Sensex and Nifty rebound sharply after steep decline, driven by value buying, bluechip stocks, and global market rally.
AS-IT-IS Nutrition aims for ₹300 crore GMV in 2025 with ATOM range, endorsed by Ravindra Jadeja.
Adani Group acquires Air Works, India's largest MRO company, expanding its aviation services with a ₹400 crore deal.
Sterling and Wilson Renewable Energy Ltd. secures ₹1,200 crore order for 500 MW Solar PV project in Gujarat.