Renault's new plan to tap Middle East car markets

French car maker plans to sell more than 800,000 cars in Middle East, Africa and India
Renault's new plan to tap Middle East car markets
By Shoshana Kedem
Thu 19 Oct 2017 10:57 AM

French car-maker Renault has announced plans to almost double car sales in the Middle East, India and Africa region in the next five years.

Groupe Renault’s six year Drive The Future strategy, hopes to increase sales the Middle East, India and Africa region by 63 percent, by selling over 800,000 units by 2022.

The plan hopes to capitalise on the car-makers growing popularity in Middle East where sales in the GCC region alone have almost tripled over the past five years.

In the first half of 2017 GCC sales jumped 74 percent compared with the same time last year.

In Africa, the Middle East and India, Renault sold 491,000 vehicles in 2016; which the French car brand intends to increase to over 800,000 units by 2022.

Under the Drive The Future plan, Groupe Renault hopes to drive global sales by over 7 percent and deliver annual revenues of over €70 billion.

Its forecast shows that global unit volumes are projected to grow more than 40 percent to over 5 million units, compared with 3.47 million units sold in 2016, as the company expands its product range, including in light commercial vehicles and new zero-emission electric vehicles and builds on success of its Global Access range.

The plan will also leverage gains from the world’s largest automotive alliance, between Renault-Nissan-Mitsubishi, while maintaining financial discipline and cost efficiency, Renault said.

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Last Updated: Thu 19 Oct 2017 01:56 PM GST

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