Renault India Sales Volume Hit by Slowdown
The company sold 86,000 units in 2018, Renault India's MD said. There has not been any major jolt to the company due to the current slowdown in the auto industry, he added.
Renault Triber. (Photo: Renault)
European carmaker Renault India said its sales in volume term have been hit by the current slowdown in the automobile industry in the country. The carmaker, however, is not resorting to any job cut, but working on reducing costs and increasing efficiency, Renault India Country CEO and MD Venkatram Mamillapalle said. "We have been hit by the slowdown in the automobile sector. Sales volumes have been dipped by 17-20 per cent till date in the current year as compared to the last period," he said.
The company sold 86,000 units in 2018, he said. Since its market share in the automobile industry is 2.4 per cent, there has not been any major jolt to the company due to the slowdown, Mamillapalle said. "Two models (one SUV and a small car) are giving volumes but not to the extent we want", he told reporters on the sidelines of the launch of its new sports utility vehicle
(SUV), Triber. The other reason which had impacted the sector, particularly in the urban areas, is the emergence of ride-hailing cabs.
"Ride-hailing cabs have an impact on the sales of cars and people, mostly in the urban areas, are preferring for shared rides", he said. Mamillapalle also said that the company would focus on
the rural segment of the country and increase the dealership network in small towns and villages. Renault official also said the Society for Indian Automobile Manufacturers (SIAM), a national body representing all major vehicle and vehicular engine manufacturers in the country, had approached the government for a reduction in GST from 28 per cent to 18 per cent. He said that exports to Latin American countries and South Africa from India have been giving some cushion to the company.
Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.
Recommended For You
- Hrithik Roshan Gives Back to Tiger Shroff's Krrish Meme by Sporting Flying Jatt T-shirt
- OnePlus 7T With Round Triple-Camera Module Revealed in Official Press Image
- 33,000 People Want Oxford Dictionary to Change its Definition of 'Woman'. Here's Why.
- Sunil Grover Finally Breaks Silence on The Kapil Sharma Show Comeback Rumours
- Cristiano Ronaldo Says He Deserves to Win More Ballon d’Or Awards Than Messi