The Jeep brand of the auto major Stellantis will introduce two new sport-utility vehicles (SUVs) in India this year in an effort to increase sales in a nation where the company has failed to establish a substantial presence.
Jeep will debut the Meridian, a mid-size three-row SUV produced in India, as well as the Grand Cherokee, which will be assembled in the nation, allowing the business to sell its cars more competitively.
"We need to grow in India, we need to put all the focus in India," Christian Meunier, chief executive at Jeep, told reporters in Mumbai.
With less than 1 per cent of the Indian auto market, Jeep said last year that it will invest $250 million in the introduction of four SUVs in a nation where competitors Hyundai Motor (005380.KS) and Kia Motor dominate the class with more cheap cars. more info
Meunier stated that while he was "not satisfied with the volumes in India," he would not lower car prices in order to enhance the company's market share.
He stated that he wants Brazil to set the standard for sales in India, since Jeep sells 15,000 SUVs per month across three models in the South American country, compared to less than 1,000 SUVs per month in India, where 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 said.
While Jeep plans to electrify its whole lineup by 2025, Meunier says the company would only send electric vehicles to India when the country is ready.
India is pressuring auto manufacturers to produce clean-fuel vehicles in order to lower its oil import bill and reduce pollution, but electric car sales have been slow. This is due to the high cost of batteries as well as a lack of public charging facilities.
(Source:www.usnews.com)
Jeep will debut the Meridian, a mid-size three-row SUV produced in India, as well as the Grand Cherokee, which will be assembled in the nation, allowing the business to sell its cars more competitively.
"We need to grow in India, we need to put all the focus in India," Christian Meunier, chief executive at Jeep, told reporters in Mumbai.
With less than 1 per cent of the Indian auto market, Jeep said last year that it will invest $250 million in the introduction of four SUVs in a nation where competitors Hyundai Motor (005380.KS) and Kia Motor dominate the class with more cheap cars. more info
Meunier stated that while he was "not satisfied with the volumes in India," he would not lower car prices in order to enhance the company's market share.
He stated that he wants Brazil to set the standard for sales in India, since Jeep sells 15,000 SUVs per month across three models in the South American country, compared to less than 1,000 SUVs per month in India, where 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 said.
While Jeep plans to electrify its whole lineup by 2025, Meunier says the company would only send electric vehicles to India when the country is ready.
India is pressuring auto manufacturers to produce clean-fuel vehicles in order to lower its oil import bill and reduce pollution, but electric car sales have been slow. This is due to the high cost of batteries as well as a lack of public charging facilities.
(Source:www.usnews.com)
