The makers of compact hatchback car, Renault Kwid, are receiving overwhelming response that they never expected. In the last 10 months, Renault has managed to garner 15 percent share and sold with an average of 9,000 units per month. The mini-car segment is the toughest segment and very hard to break and it is touted that nobody has succeeded in the past.
Speaking at the achievement Sumit Sawhney, managing director at Renault India said that the response to the Kwid mini car has exceeded their expectations. The French carmaker is now going all out to tap the growing Indian market with one new car every year for the next four-five years.
He further added that Renault is in an “investment mode” and it is planning to continue to invest in Kwid variants and other new products. Sawhney also said that India needs better free trade agreements (FTAs) with Europe, UK and Asean countries.
On Monday, Renault added two new 1-liter engine options to the portfolio of its heartthrob car Kwid which are priced with around Rs. 20, 000 more than the base version.
As per the official announcement made by Renault, these two new variants are tagged with Rs 3, 82,776 and Rs. 3, 95,776 correspondingly. While in less than a year of launching, Renault has already shipped 1, 65, 000 units of Kwid, these two new models are expected to buttress this trend more.
Kwid new model is now fueled by a 999cc 3-barrel DOHC engine that produces 68PS of force and 91Nm of crest torque. The new 1.0-liter engine is 14PS more intense and 19Nm torquier than its more youthful variant. Force is transmitted to the front wheels through a 5-speed gearbox. Renault claims a fuel effectiveness of 23kmpl with this new motor.
“The mini-car segment is the toughest segment and very hard to break. Nobody has succeeded in the past, but in the last 10 months, we have managed to garner 15 per cent share and we are selling about 9,000 units a month. We knew entry into this segment cannot be half hearted,” In a meeting with Economic Times, Sawhney said.
“So we created a platform for emerging markets ground up and for the first time in our 118-year history, a global car was launched outside of Europe, that too in India. So far, it has exceeded our internal expectations.”