Renault India CEO & MD Venkatram Mamillapalle
Domestic passenger car gross sales are anticipated to breach the 4-million mark through the calendar 12 months (CY) 2023 regardless of a number of constraints, stated Venkatram Mamillapalle, CEO and MD, Renault India.
“I am optimistic that the domestic Total Industry Volume (TIV) would cross the four-million mark due to a strong order book driven by pent-up demand due to a prolonged supply chain constraint, excitement around new launches, government’s thrust on infrastructure development, drop in CNG prices, and stable and improved job markets,” he stated throughout an interplay.
“The volume might look small against the previous year. Let’s first cross the magical figure of 4-million. The growth in TIV would lead to fluctuations in the percentage of market share of automakers, but there will be volume growth for all,” he stated.
Also Raad: Passenger autos wholesales rise 26.73% to file 38.9 lakh models in 2022-23: SIAM
Last 12 months, the home market recorded passenger automotive gross sales of three.8 million models with Maruti Suzuki, Hyundai Motor, Tata Motors, Mahindra, Kia India and Toyota Kirloskar amongst others recording ‘good’ development.
However, he felt the trade might face headwinds this 12 months in the type of semiconductor chip scarcity due to China’s Taiwan drill, traction in the electrical autos market and upcoming normal elections.
(*4*) he cautioned.
Also Read: Passenger car retail gross sales up 14% in March: FADA
Asked concerning the ongoing electrification transition, he stated that unique gear producers are anticipated to incur vital investments in the event of ground-up EV platforms and improve manufacturing capacities. A whole lot of motion goes to be seen on the EV entrance, he added.
During CY2022, Renault India bought 1.14 lakh vehicles (throughout the Kwid, Kiger and Triber fashions). This 12 months, gross sales can be ‘more or less’ on the identical strains, he stated.
While hinting at the potential for re-entry of its compact sport utility car Duster with extra options, he additionally stated that the 800cc Kwid was discontinued just lately because it didn’t conform with the BS-6 Step 2 emission norms.
