India’s position in the Renault Group’s Top 15 global markets in first-half 2024 has risen by one rank from 13th in 2023 but remains a fair distance from the No. 7 it had in CY2022. Renault India, which sold 23,100 cars and SUVs in January-June 2024, is banking on five new products to regain traction in the future.
26 Jul 2024 | 8584 Views | By Ajit Dalvi
The Renault Group has announced its first-half (January-June) results for calendar year 2024. India, which is among the fastest-growing automobile markets in the world and registered record sales of 4.21 million units in FY2024 and 4.10 million units in CY2023, has been ranked 12thamong The French carmaker’s Top ...
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The Renault Group has announced its first-half (January-June) results for calendar year 2024. India, which is among the fastest-growing automobile markets in the world and registered record sales of 4.21 million units in FY2024 and 4.10 million units in CY2023, has been ranked 12th among The French carmaker’s Top 15 global markets. That’s one position up from the No. 13 it had in CY2023 but four ranks below its No. 7 rank in CY2022.
For the January-June 2024 period, the Renault brand reported a 2.0% increase in global sales (787,223 vehicles) compared to H1 2023, thanks to its success in Europe, where sales rose by 8.2% (535,238 vehicles). Outperforming a market that grew by 5.5%, the brand consolidated its position as Europe's third-ranking PC+LCV brand, primarily on the back of results in Spain (+12.7%), Italy (+18.4%) and the United Kingdom (+32.7%). In its home market of France, Renault consolidated its leading position with 214,881 vehicles sold, an increase of 8% on the overall PC+LCV market. Nearly one in every five vehicles sold in France is a Renault, states the French automaker.
In its five main European countries, the Renault brand achieves one in every two sales to retail customers, with the Clio and Captur among the top 10 in the retail sales rankings.
Outside Europe, the Renault is also making progress in Turkey (10.8%), Brazil (5.3%) and Morocco (1.5%). The first few months of the year saw the roll-out of the ‘International Game Plan 2027’. Renault is relaunching the brand in South Korea with the Grand Koleos, while the Kardian is off to a good start in Brazil with more than 5,200 registrations. This vehicle has also been very well received in Mexico and will be launched in Morocco in the second half of the year. In Turkey, the all-new Renault Duster, revealed in February 2024, which will be launched in the second half of 2024 for international markets. India is expected to get the new Duster, first as a five-seater and then a seven-seater, albeit only in the second half of CY2025.
HOW RENAULT’S TOP 15 MARKETS STACK UP BETWEEN H1 2024 AND CY2023
A quick comparison of the Renault Group’s Top 15 markets’ ranking in first-half CY2024 and CY2023 reveals that while the top three positions – France, Italy and Turkey – remain unchanged, Spain has gone ahead of Germany to be No. 4 rank, and the UK is No. 6, ahead of Brazil. Belgium+Luxembourg, Romania, and Morocco retain their Nos. 8-9-10 rankings but Poland has risen to No. 11 from No. 12 in CY2023. India is up one rank at No. 12 in H1 2024 compared to No. 13 in 2023. Meanwhile, the Netherlands has moved up two ranks to No. 13 from 15th position seven months ago. Argentina, which was No. 11 in CY2023, has slipped four ranks to take No. 15 position.
Renault India, which currently retails three models – the Triber MPV, Kiger SUV and the Kwid hatchback – has seen demand fall 21% in the first half of CY2024 (January-June 2023: 29,411 units). The Triber, with 12,259 units, is the one with the highest sales, followed by the Kiger (5,906 units) and the Kwid (4,935 units)
AMBITIOUS NEW MODEL STRATEGY TO REGAIN SALES AND MARKET SHARE
Renault India has outlined a five-model rollout, including an affordable EV, over the next three years to regain sales momentum in the PV market.
On January 5, 2024, Renault India announced an ambitious plan to bring five new models by 2027, as part of the Renault Group's Renaulution 2024 global growth strategy. It is also a strategic move to reaffirm the Renault Group’s commitment to the Indian market, where it has been since 2010 with the 480,000-units per annum Renault Nissan Alliance plant in Oragadam, Tamil Nadu.
Renault considers India as one of its four key hubs outside of Europe. While the new Triber and Kiger are confirmed as part of the five new launches, there will also be the new Duster SUV along with another SUV.
Renault’s compact seven-seater Triber has been on sale for over four years and is due for a refresh. Meanwhile, the Kiger arrived just under two years ago, but it could also do with a refresh given the increasing competition in the compact SUV market. Renault is expected to bring the new Duster to the market, along with the seven-seat version based on the Bigster concept. Revealed recently with a Dacia badge, the all-new Duster is based on Renault-Nissan Alliance’s modular CMF-B platform, and retains quite a lot of the previous model’s muscular design and upright stance. While the styling will have some differences when it arrives in India late next year with a Renault badge, expect this 4.3-metre long SUV to look similar to the unveiled model. The fifth model is to be a highly localised, made-in-India EV.
(With inputs from Autocar India)
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