Renault's Ambitious 2030 Vision: Capturing India's Automotive Market

French automaker Renault is targeting a 3-5% market share in India's passenger vehicle segment by 2030. The strategy includes new product launches and expanding its sales network. Despite the current market share being below 1%, Renault aims for significant growth, focusing on quality and technology.

French automaker Renault has set its sights on capturing a 3-5% share of India's passenger vehicle market by the year 2030. The ambitious target is to be driven by a slew of new product launches and an expanded sales network, as revealed by company executives.

Currently offering models like Kwid, Kiger, and Triber, Renault recently unveiled the all-new Duster, expected to bolster its presence when deliveries start in April. Despite Renault's market share dipping below 1% in India's robust 43 lakh-strong passenger vehicle segment, CEO and Chief Growth Officer Fabrice Cambolive remains optimistic about achieving the 2030 goal.

Cambolive emphasized that Renault's strategy hinges on offering competitive and technology-driven vehicles tailored to a well-informed consumer base. While the company does not plan to immediately launch electric vehicles in India, it sees them as essential to future growth. Moreover, the pending India-EU FTA could facilitate bringing premium European models to India, furthering Renault's market expansion efforts.

(With inputs from agencies.)