Never before a car maker in India has given so much preference to the design of an entry level car before Renault launched Kwid. And what’s the result? It has got 25,000 bookings within two weeks since launch.
Competing with entry-level models such as Maruti Suzuki Alto and Hyundai Eon, Kwid has managed to attract customers thanks to its aggressive pricing (Rs 2.56 lakh to Rs 3.53 lakh) and SUV styling.
Out of the 25,000 bookings that Renault Kwid has received almost 35% of them have come from the tier II and tier III cities such as Rajkot, Nagpur, Nashik, Jalandhar, Ludhiana among other towns. Almost 40% of buyers are below the age of 28 and approximately 15% of the buyers are female buyers.
Sumit Sawhney, MD of Renault India told ET, "We have been able to create a lot of excitement, across demographic and across geographies, it is truly a game changer. Booking number is a true recognition of consumers on Renault brand. Kwid's fuel economy and low cost of maintenance are being widely cited by prospective buyers in choosing the vehicle."
The product has shaken up the entry level car space (Rs sub-4 lakh market), which makes up for 25% of the overall market. Prior to the launch of Kwid, the volumes in the segment have remained benign due to sluggish macro-economic environment. Kwid is likely to add sizeable incremental volumes. Maruti Suzuki sells approximately 20,000 to 23,000 units of Alto and Hyundai sells about 4,000 to 6,000 units of Eon in a month.
Priced Rs 30,000 lower than the segment leader Alto (Rs 2.89 lakhs) at the base and atleast Rs 54,000 lower than South Korean car maker Hyundai's Eon, the French car maker has upped the ante at the top end by offering first in segment features such as 7- inch touch-screen, Media-Nav system, digital Instrument cluster, one-touch lane change indicator at a price of Rs 3.53 lakh which no manufacturer offer at this price range.
The vehicle is powered by 800cc 3 cylinders petrol engine, delivering a fuel efficiency of 25.17 kmpl (ARAI Certification) making it the most fuel efficient petrol car in the country.
The vehicle is a key driver for Renault's target of 5% market share in the next few years and volumes of over 1,00,000 units.The company is likely to launch a 1 litre variant next year and also has automated manual transmission version under works.