Renault will launch a new 1-litre petrol engine of its small car Kwid. The French auto major will launch this new version by this month.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Currently, the company sells the Kwid with an 800cc engine, is looking to garner 5% share in the Indian car market by the end of this year.

"The Kwid has been widely accepted in the Indian market and we are ready to enhance our offering under the model range by launching a 1-litre engine version this month," Renault India Operations Country CEO & Managing Director Sumit Sawhney told PTI.

"With the launch of the 1-litre Kwid, we will be further enhancing our offering in the segment and serve customers who are looking for a more powerful vehicle in the entry level segment," Sawhney added.

He said the company has already sold over 75,000 units of the Kwid since its launch in September last year.

Renualt Kwid will be competing with Maruti Suzuki's Alto, which also has an 800 cc (Alto 800) as well as a 1-litre engine (Alto K10) versions.

The current Kwid powered by 800 cc engine is priced between Rs 2.62 lakh and Rs 3.67 lakh (ex-showroom Delhi), while the Alto 800 is tagged between Rs 2.45 lakh and Rs 3.76 lakh (ex-showroom Delhi).

While Renault is yet to announce the price of the 1-litre Kwid, the Alto K10 is priced between Rs 3.25 lakh and Rs 4.15 lakh (ex-showroom Delhi).

The strengthening of the portfolio is part of the company's plans to increase its market share in India, he said.

"Last year we had stated that we want to garner 5% marker share in India. We are on course and I am hopeful that by December this year we would touch that mark," he said.

According to Society of Indian Automobile Manufacturers (SIAM), domestic car sales stood at 20,25,479 units in 2015-16 as compared with 18,77,706 units in the 2014-15.

(With inputs from PTI)