Unveiling the Renault Kwid 800cc global small car here on Wednesday, a top company official said the "cconquest car" would mark the French automobile major's entry into the volume segment in India.
"The Renault Kwid will be priced between Rs.3 to 4 lakh and sales would start happening during this September-November festive season," Carlos Ghosn, chairman and CEO Renault Group, told reporters here.
According to him, Renault Kwid would be the company's "conquest car fighting against the likes of Maruti Suzuki and Hyundai Motor India" and would be a game changer in the Indian small car market.
Ghosn said Renault Kwid is the first car to be rolled out on a common platform designed in alliance with Japanese automobile maker Nissan Motor Company.
He said Nissan Motor would launch its small car sometime next year.
According to him, the idea is to roll out at least two models with a single platform, engine and gear box.
However, he categorically ruled out cross-badging of models by Renault and Nissan.
Ghosn confidently said the new model would compete strongly in the Indian small car segment accounting for nearly 25 percent of car market.
Queried whether Renault would have India as an export hub for its overseas markets for the new car, Ghosn said the country could be the production and export hub for the South East Asian region.
"If the car has to have 98 percent local content then it has to be made in the market where it would be sold. The new car will not be shipped out of India to South America. There are no plans to launch this model in Europe at least for the next two or three years," Ghosn said.
According to him, Kwid is the third new model launched by Renault after Duster, Lodgy in India which would help the company to gain five percent share in the overall domestic car market.
He said India is expected to be the fourth largest car market in the world after China, the US and Japan.
"In India there are cars that are innovative, attractive and affordable. And Kwid has all the three attributes," Ghosn claimed.
Though small in size, Kwid has the profile of a sports utility vehicle (SUV) and has the best in class fuel efficiency, he added.
According to him, the car was designed using the group's design talent in France, Japan and India.
Queried about the distribution network Sumit Sawhney, country CEO and managing director, Renault India said the company would nearly double its network from 157 now to 280 by the end of next year.
Ghosn said the company would start making money with Kwid contributing to it largely in the mid-term.