New Delhi: French car major Renault plans to venture into used car business in India in the second half of this year as it looks to strengthen its position in the country, where it aims to have 5 per cent market share by the end of 2016.
Besides, the company which sells six models in the country including sports utility vehicle Duster and recently introduced Multi-Purpose-Vehicle (MPV) Lodgy, aims to double its sales in the current year to around 1 lakh units.
"We plan to start the used car business in the second half of the year. It is important to be ready for growth in future. We need to give a right platform for customers to sell their used cars," Renault India Country CEO and MD Sumit Sawhney said.
The company is currently testing internally the used car format on a pilot basis before launching it on a full scale during the second half of the year, he added.
Elaborating on the sales target, Sawhney said the company aims to double its sales by the end of the current year, riding on the company's plans to enter into volume segments like MPV and small car verticals.
"We are trying to get into segments where we have not been present earlier. With Lodgy we are getting into fast growing MPV segment and later in the year we also plan to launch a sub Rs 4 lakh car in the country," Sawhney said.
The company, which sold around 45,000 units last year, currently has a market share of just over 2 per cent in the country. It aims to achieve 5 per cent market share in India by the end of next year.
At present, Duster is Renault's volume driver and a key pillar for its growth in the country. Renault India has so far sold 1.25 lakh Duster in the country. The company is also looking at expanding its sales network across the country with a target of over 200 touch points by the end of this year.
"As of today, we have 157 outlets across the country. By the end of this year we aim to have 205 sales outlets and 280 touch points by the end of next year," Sawhney said.
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