Renault India has entered new waters in the Indian automobile industry as it opened its used car division - Renault Selection. The French automaker has been aggressive about its operations in India and the used car division comes from the same strategy as the comparatively younger company completes just four and a half years in the domestic market. The automaker is looking to introduce newer customers to the Renault brand with its used car business and will purchase and retail cars from multiple brands.
Renault Selection inaugurated its first dealership in Whitefield, Bangalore with partner Trident Auto and the multi-brand outlet is spread over 21,000 sq.ft. and currently has 50 cars on display and is capable of showcasing up to 100 cars at any time. Renault states that its used car business is aimed to provide a peace of mind, hassle free car buying experience to its customers that is transparent and reliable and as a result, the company has some stringent policies in place on retailing pre-owned vehicles.
(Sumit Sawhney, MD & CEO, Renault India, inaugurating the Renault Selection Showroom)At the outset, Renault Selection has 199 inspection checks in place, clean documentation, warranty up to one-year or 20,000 km with cashless warranty claims at over 1000 authorised workshops pan India. The company is also providing financial assistance via Renault Finance. Adding an interesting feature, the company is offering 24x7 Road Side Assistance (RSA) on its used vehicles.
With the Bangalore dealership in place, Renault's immediate expansion plan includes opening pre-owned dealerships in Nagpur, Chandigarh and Jaipur; whereas there will be 20 such showrooms by the end of the year. 2017 will see the used car business expand to 50 showrooms, the company confirmed. Talking about its new showrooms, Renault India will be expanding its base to 270 dealerships this calendar year.
Renault's aggressive approach towards the India market seems to be paying off as the automaker managed to acquire 4.9 per cent market share within just four years of operations. The company that started its operations with the Duster saw its hits and misses with other products, before finally hitting the jackpot with the Kwid last year. The Kwid has not only provided the automaker the much-needed volumes but has also opened the French car maker to tier II and III cities in the country.
(Renault Selection is a multi-brand used car showroom by Renault)Renault Selection is expected to similar opportunities for the automaker to grow in the country, but will be facing tough competition from established manufacturer based players like Mahindra First Choice, Maruti Suzuki True Value, Volkswagen's Das WeltAuto and Tata Motors Assured. The global used car market is nearly three times the size of new car volumes and India's unorganised used car business poses as a massive potential that companies can tap into.
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