Economy, Auto

Kwid Helps Boost Renault Sales

Kwid Helps Boost Renault SalesKwid Helps Boost Renault Sales

French automaker Renault’s small car Kwid has clocked 150,000 orders since its launch in India last September, playing a key role in boosting the group’s sales in Africa, Middle East and India in the first six months of 2016.

In these markets, Renault’s sales stood at 208,690 units in the first half of the year against 151,041 in the corresponding period of last year, up 38.2%, Renault said in a statement.

The company said its sales in India during the period stood at 61,895 units, up 3.8%, Business Standard writes.

“In India, Kwid enjoyed further success, with 150,000 orders since its launch, lifting its market share by 2.3 points to 3.8%,” the company said.

Kwid was launched in September last year priced between Rs.257,000 and Rs.353,000 (ex-showroom Delhi).

Globally, Renault said its total sales in the first half of 2016 stood at 1,567,720 units as against 1,382,122 units year-on-year, up 13.4%.

“Our market share grew across all regions, with particularly strong momentum in Europe and the Africa, Middle East and India area,” Groupe Renault Executive Committee member and executive vice president for sales and marketing) Thierry Koskas, said.

The company, however, said internationally, turbulence in Russia, Brazil and Algeria continued to weigh on local automotive markets, but the group increased its market share in all three regions. “This strength, coupled with strong momentum of the group within markets such as India, Turkey, Argentina and Iran, allowed the group to grow its market share in each region,” it said.

Renault has previously told Financial Tribune that the hot-selling Kwid crossover is expected to make its way into the Iranian market by 2017.