Renault to foray into used car business in India

  • Oct 6, 2014
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The French carmaker plans to venture in the used car business segment next year besides launching two new products

Renault Duster SUV

With an aim to bolster its presence in the Indian market Renault plans to enter the used car business segment by 2015 in the country. The French automaker also has plans to launch two new products for the Indian market.

Big players in the market such as Maruti, Hyundai, Volkswagen and Mahindra have their own used car divisions in the country. Renault looks forward to grow in the Indian car market and hence has decided to foray into the used car business segment. The French carmaker is targeting a market share of five per cent in India.

The company states that when an existing customer plans to sell his car he looks forward to an exchange platform where he can get a good value for his car. Renault further feels that the used car business model helps new buyers to get exposed to the brand.

The carmaker has also revealed its plans to launch new vehicles in India in the near future. The first one to make it to the Indian shores will be the recently spied Renault Lodgy MPV which is slated to be unveiled earlier next year. There will also be an automatic version of the popular Renualt Duster SUV that will be available to the public in the near future. 

Renault currently sells five models in India including the mid-sized SUV Renault Duster. The company had a market share of over two per cent in the country last year. The Indian passenger vehicle market stood at around 25 lakh units last fiscal. The carmaker plans to increase its share in the market with the introduction of new vehicles.

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