Renault aims at 5% marketshare with sub-Rs 4 lakh car

Renault India on Friday said it was aiming to double its marketshare to 5 per cent over the next three to four years, riding its sub-Rs 4 lakh car.

"Our current marketshare is 2.6 per cent and in the mid-term (3-4 Years) we aim to double the marketshare," Renault country CEO & MD Sumit Sawhney said on Friday today at the launch of second showroom in Kolkata.

The sub-Rs 4 lakh car proposed to be launched in 2015 would help in achieving the target, he said.

Sawhney said the plan for a captive financing arm that would support both Nissan and Renault is there and the process had been initiated for the same.

The financing arm for the alliance partners will support credit related support to dealers and customers.

Sawhney declined to comment on whether RCI Banque was planning to launch its business in India.

RCI Banque is part of Renault Group and carries out its financing activities.