The pre-owned car market is getting increasingly organized and has immense potential. Through Renault selection, Renault will help most of the first-time car buyers fulfil their dream of owning an car. It will also serve existing Renault customers wanting to buy a new Renault car, to exchange/upgrade his vehicle under one-roof.
“Estimates suggest that the pre-owned car market is nearly 3 times the size of new car volumes in Western Europe, UK and US. In India, the used car market is already more than the new car volume and it is estimated to reach twice the size of the new car market within the next 5 years. Given this, Renault selection, will play an important role in building the Renault brand in India,” added Mr. Sawhney.
Renault Selection will start operations in India with 4 facilities planned in Bangalore, Jaipur, Nagpur and Chandigarh. These state-of-the-art outlets shall offer a wide choice of certified multi-brand vehicles to customers, along with warranty and RSA and an unmatched customer experience. Renault will expand the foot print of RENAULT selection to all significant markets in the coming years.
Together with its progressive product portfolio expansion strategy to drive volumes in India, Renault is substantially increasing its sales and network reach in India. With significant steps on product, network and the brand, Renault is truly ready for the next phase of growth in India. Renault India was aiming to achieve a market share of 5% by 2017, but basis the huge demand for its models, the company is confident to reach the target by the end of 2016- a clear testimony of its rapidly growing success in India.
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