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Renault targets to double revenue from auto component exports by next year

The company’s total revenue from component exports from the country for its global operations stood at 190 million Euros in 2018.

Published: 07th October 2019 09:19 AM  |   Last Updated: 07th October 2019 09:19 AM   |  A+A-

Renault Duster

Renault Duster

By Express News Service

At a time when automakers are struggling to find buyers for their vehicles, French car maker Renault is planning to double revenues from automobile component exports from India to various global operations by next year.  The company’s total revenue from component exports from the country for its global operations stood at 190 million Euros in 2018.

“We export a lot of parts, close to 198 million Euros worth of parts are getting exported globally per annum and this is going to double by the first half of the next year,” Venkatram Mamillapalle, country chief executive officer and managing director of Renault India Operations, told news agency PTI.

The exports are helping in keeping the supplier community of Renault in India intact, he added.  “They (suppliers) might see a lot of decline in volumes (domestic market) but they are not impacted as exports have picked up more and thanks to devaluation of the rupee, it means better revenues as you get paid in Euros,” Mamillapalle said.

The company exports components such as engine parts, plastic and body parts to countries such as Russia, Brazil, Romania, Colombia, Argentina and Morocco. The automaker will also expand its presence in the Indian passenger vehicle market as it plans to launch three new models, including an electric vehicle, by 2022. Renault aims to double its market share in India by 2022 from its current market share of around 4 per cent.

Besides, the company also aims to double sales and services network in India in order to support new products and also its existing customers. Renault plans to have around 700 strong sales network across the country by 2022.

When asked about vehicle exports, Mamillapalle said the company is exporting about 10,000 units of Kwid to South Africa per annum. "For Triber, we are working for right-hand markets from Africa to Asia Pacific. Currently, engineering department is working on meeting regulations and homologations... hope they do it faster... probably the beginning of next year, we will start exporting the model," Mamillapalle said.

Renault has already introduced upgrades of Duster and Kwid and launched an all-new model Triber recently as it eyes volumes in the country.



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