This festive season, automakers in India have witnessed strong demand from customers. Several car manufacturers have announced witnessing double-digit growth compared to last festive season, and have made bulk deliveries during Diwali and Dhanteras. According to sources in the company, Renault India too has delivered over 3000 cars, combined, during the two festive days. This certainly shows massive growth in demand, especially when you consider the fact that during the 9 days of Navratri, and Dussehra combined, the company delivered 5000 cars in India. And here, the carmaker managed to achieve over 60 per cent of that in just 2 days.
Our sources also add that post-COVID-19, with restrictions easing, Renault India has substantially grown its presence in India. Currently, the company holds a market share of 3.2 per cent in 2020, which is a growth of 0.7 percentage points over last year, wherein Renault's market share was 2.5 per cent. In fact, in October 2020, the company sold 11,005 units in India, its highest monthly sales yet, for the year 2020.
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In addition to pent-up demand, another factor that has most likely added to the strong festive sales are the Diwali deals, offered by the company this month. In November 2020, Renault India is offering huge discounts of up to ₹ 1 lakh on its entire product portfolio, including the Kwid, Duster and the Triber. Customers can avail of special festive schemes such as cash benefits, exchange bonus, and a special rate of interest.
Renault India has been on the recovery path led by strong demand for its small hatchback Kwid and the subcompact MPV, Triber. Both of which account for an average of over 5000 units a month. Currently, the company is gearing up to introduce its first subcompact SUV, codenamed HBC, which was recently teased. That too will be based on the same CMF-A+ platform, as the Triber.