Renault India losses double at Rs 850 cr

While Renault India announced a drop in sales for 2018, down 27% to 82,368 units sold, down from 1 12,477 units sold in 2017, its losses also increase. Renault India offers a portfolio that includes Kwid hatchbacks, Duster SUVs, Captur SUVs and Lodgy MPVs. With a target of 5% market share, the losses were twice as high, reaching 2,850 crores of rupees during the year ended March 2018. This was contrary to the losses recorded during the year. Fiscal year 2016-2017, which stood at Rs. 360 crores.

The causes of Renault's losses include poor brand image, product deficiencies and fierce competition, notably from Maruti Suzuki and Hyundai, the two main manufacturers. Renault Captur, supposed to be a big launcher, only found 3,390 buyers during the year.

After experiencing some success at the beginning of the compact Renault Duster SUV and launching Kwid more recently, sales have also not have been sustainably raised in the market, and its other products have had little effect on sales figures. Operating revenue decreased by 10.59% in the prior year to Rs 6,904.3 million from Rs 7,722.1 million in the previous year. , 02,222 units. Production decreased by 22% in fiscal year 18 according to data provided by SIAM – Company of Automobile Manufacturers of the Indian company. Following this decline in production and sales, the period from April to November 2018 also experienced a further 26% year-over-year decline, as did the fiscal year 2018.

Renault India has ambitious plans for India with new investments and more profitable products while expanding their portfolio in various segments. The company has strongly supported India as a major export hub.

Renault India started 2019 with a series of discounts on bids until January 2019, model year 2018 vehicles. Renault Kwid benefits amount to Rs 40,000, with an allowance in cash of 20,000 rupees and a benefit in exchange of 20,000 rupees. Renault Captur offers advantages for petrol and diesel XT variants, as well as Platinum Diesel top fittings in the order of 41,000 lakhs.

Renault Duster benefits from 65,000 rupees with a first-year insurance of 1 rupee and a cash allowance of 20,000 rupees. Renault Lodgy MPV is available with benefits of Rs.1.5 lakhs on Standard and RxE variants. The Stepway variant involves benefits up to 1 Rs lakh and a first year insurance at 1 Rs.