Jeep, which has lower than a 1 per centshare of India’s automobile market, mentioned final 12 months it could make investments $250 million to launch 4 SUVs in a rustic the place rivals Hyundai Motor and Kia Motor dominate the section with extra inexpensive autos.
Stellantis’ Jeep will launch two new sport-utility autos (SUVs) in India this 12 months to spice up gross sales in a market the place it has struggled to ascertain a significant presence. Jeep will launch the Meridian, a mid-size, three-row SUV, that will likely be made in India, and the Grand Cherokee, which it can assemble within the nation – a transfer the corporate expects will enable it to cost its autos extra competitively . “We need to grow in India, we need to put all the focus in India,” Christian Meunier, chief govt at Jeep, informed reporters in Mumbai.
Jeep, which has lower than a 1 per cent share of India’s automobile market, mentioned final 12 months it could make investments $250 million to launch 4 SUVs in a rustic the place rivals Hyundai Motor and Kia Motor dominate the section with extra inexpensive autos.
Meunier mentioned he was “not happy with the volumes in India” however wouldn’t scale back the worth of autos simply to extend the corporate’s market share.
He mentioned he needed Brazil to be the benchmark for gross sales in India – Jeep sells 15,000 SUVs a month within the South American nation throughout three fashions versus lower than 1,000 SUVs a month in India the place it sells the Compass and Wrangler SUVs.
“We’re not investing all this money in India for not getting success. We’re not here to lose, we’re here to win,” he mentioned.
While Jeep is engaged on electrifying its portfolio by 2025, Meunier says it can deliver electrical autos to India solely when the nation is prepared.
India is pushing automakers to construct clear gasoline autos in an effort to cut back its oil import invoice and lower air pollution, however gross sales of electrical automobiles have been sluggish to take off. This is especially due to the excessive worth of batteries and insufficient public charging infrastructure.
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With inputs from NDTV
