The sensational launch of Renault Kwid in India, priced at a starting Rs 2.57 lakh, and the eye-balls it has grabbed thereafter for its looks and other top features on offer, has forced rival automakers to offer discounts to make sure they stand their ground and maintain their market share.
India’s largest automaker, Maruti Suzuki has priced-in a large discount in its small car Alto 800 (discount range stretches up to Rs 35,000) and Hyundai is offering cut-price deals on Eon (discounts of up to Rs 37,000).
While it is quite common for Maruti Suzuki, Hyundai and other automakers to trot-out special offers during festive season but an approximate 14% discount on India’s best-selling car is quite large and can be attributed to escalating competition, courtesy Renault Kwid’s entry into the market.
The Renault Kwid has managed to register more than 25,000 bookings in less than a month of its launch, which definitely makes it a subject of worry for both Maruti Suzuki and Hyundai.
Considering that Renault Kwid managed to secure a sizable market share, even with its limited service infrastructure boasts of the car’s quality. With strikingly designed aesthetics and first-in-the-segment gadget, Kwid has redefined the benchmark for entry level cars.
But as far as consumers are concerned, thanks to Renault Kwid, they will be laughing all the way to the bank with their savings.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.