Companies news
Renault Nissan Planning Second Innings In LCV Market In India
The Renault Nissan alliance is planning to make a comeback into the LCV (Light Commercial Vehicle) market in India. In an interaction with ETAuto, Denis Le Vot, Global Head of Renault-Nissan Alliance recently confirmed, "As far as Group Renault is concerned, we have been developing our international footprint in light commercial vehicle space very attentively since last year. We have started a new business in China. It is true now that Indian market is of much interest to us. We are actively working on relevant platforms to tackle this (Indian) market. Very soon we are going to talk about it."
This announcement comes in line with the group's increased market share in the LCV segment intentionally, with the latest one being in China. To be precise, Renault has a sales target plan of selling 5.5 lakh vehicles in China by 2022. This very figure makes it 150 per cent over what was achieved last year when the company sold 2.16 lakh units, wherein 1.63 lakh units were that of LCVs that were produced with the Chinese JV partner Jinbei Brilliance. Presently Renault has three products on offer in China which are Captur, Kadjar and the Koleos. The Renault Nissan Alliance did associate with Ashok Leyland to foray into the LCV space with Stile. However, the contracted was terminated after receiving a legal notice from Ashok Leyland for utilising the joint venture-owned equipment to make cars instead of light commercial vehicles.
It is being said that LCVs will play a big role in the near future with construction of new highways and market expansion due to e-commerce growth. In terms of sales, the LCV segment's sales have gone up by 19. 46 per cent in FY18-19 at 616,579 units compared to 516,135 units a year ago. Among the many players in this space, Ashok-Leyland, Mahindra and Tata Motors have always dominated the segment till the recent entry of Maruti Suzuki with the Super Carry diesel LCV amounting to about 4.23 per cent market share.
Source : Overdrive
