Renault India to re-enter mid-sized SUV segment amid surge in passenger vehicle sales

French automaker Renault is looking to re-enter the robustly growing mid-sized SUV segment in India as it gears up to launch three new models by 2025, according to a top company official. It plans to introduce two internal combustion models along with one electric vehicle by 2025.

Renault India's Country CEO and Managing Director Venkatram Mamillapalle said that the company is looking to enter the segment with a lot of innovations. It currently sells three models in the Indian market, Kwid, Triber, and Kiger.

"The three (existing models) will continue... And then the new products will come in..We will go into the four plus metres segment, 4.3 metres basically," he said.

The company will get into the segment, which already has many established models such as Creta, Seltos, and Grand Vitara.

Rise in passenger vehicle sales 

There has been a rise in sales of passenger vehicles (PV) and premium two-wheelers in the country. Maruti Suzuki India is the leading passenger vehicle manufacturer in terms of volume, with a 8.5 per cent year-on-year increase in domestic passenger vehicle sales. A total of 1,33,027 units were sold in June. The surge in demand was mainly driven by new models, according to a market analysis by Antique Stock Broking . 

The boost in PV sales has also been due to improvements in supply chain issues, according to experts. Motilal Oswal analysts said that despite the progress, most SUV models are facing a waiting period of about two months.

Renault to focus on SUV segment

Mamillapalle said that the company is focusing on the SUV segment in the market.

"That is what the market wants..What else is there in the market today?," he said.

Renault Kiger 

The Renault-Nissan alliance announced Rs 5,300 crore worth of investments in February. They are aimed at rolling out six new models between the two companies, including two electric vehicles, representing the two global brands. 

"And hopefully we are trying to enter with the way we entered with Duster, and we will also enter into this segment with a lot of innovations. The activity has already started. Then, until 2030, we will have more products. There is already discussion taking place," Mamillapalle said.

"Duster is a fascinating vehicle, and that is the inspiration for Renault to be in India. And I do not know whether we will call Duster or we are bringing Duster or a Duster replacement. Or whatever you call it. But we are getting into that segment," Mamillapalle said when asked if the new product would be the next generation of Duster.

New launches in the SUV segment 

Kia Seltos facelift 

Kia India launched its new compact SUV Seltos facelift on Tuesday, aiming to capture 10 per cent market share in the domestic PV segment. 

Honda also plans to launch five new SUVs in India by 2030 to revive its fortunes in the country, as per a senior company official. The company launched its mid-sized SUV Elevate in India last month.

Honda Elevate

Maruti Suzuki India also launched Jimny, a SUV priced between Rs 12.74 lakh and Rs 15.05 lakh (ex-showroom Delhi), last month.

Maruti Suzuki Jimny