Jeep India positive to the car sector outlook; to launch new products

Jeep India, which had a robust volume growth of 130 percent last year despite an uneven journey due to the pandemic, is positive about the prospects for the domestic car industry and is set to launch new products this year.

In addition, the market is expected to grow further despite concerns about the effects of the Omicron variant, the Jeep India Head Nipun Mahajan.

Powered by the facelift version of the SUV Compass in February 2021 and the locally assembled Wrangler, Jeep India sold 12,136 units in 2021 compared to 5,282 units in 2020. This reflects a growth of 130 percent in vehicle sales.

Jeep is part of the portfolio of brands offered by the leading car manufacturer and mobility provider Stellantis. Jeep’s brand currently has two products in its India portfolio – Compass and Wrangler.

While producing Compass at the Ranjangaon plant near Pune since June 2017, the company began assembling the Wrangler locally from mid-March last year from the same plant.

“We are quite positive about the outlook due to the market’s resilience. In the last 4-6 years, the market has gone through many ups and downs and adapted to various factors, but the recovery is quite good,” Mahajan told PTI.

He noted that 2021 in itself had a growth of 20 percent over segments in 2020, and said that “the market will grow (further). Of course, we will have some disruptions when we start with Omicron, but despite this, the Indian consumer has the ability and requirements to grow the automotive industry. It will help the market grow over 2021 “.

According to him, 2021 was a very good year for the Jeep brand in India with sales increasing by 130 percent of over 12,000 units compared to the year before.

“There were covid implications on the business when the year began but I think we all recovered very well. Jeep India also saw a 20% volume increase in 2021 compared to 2019, which was the pre-pandemic period,” Mahajan said.

The launch of the new Jeep compass with strong product features received an overwhelming response from customers, he said, adding that some of the customer-centric initiatives that the brand took after the locking situation eased also helped it get good traffic in the showrooms.

“2022 will be a very big year for us when we launch two new products. And we will have a lot of action on Compass as well, starting with the Compass Trailhawk in February this year,” said Mahajan.

The Jeep brand that is in the premium segment covers both the start and end point of the segment in the domestic market very well, he said, adding “we will only strengthen our position with the new products that we will develop. With”.

Furthermore, Mahajan said that the company has already invested 250 million USD for the development of new products and Jeep will continue to invest here in new products.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

Dear reader,

Business Standard has always strived to provide up-to-date information and comments on developments that are of interest to you and that have broader political and economic consequences for the country and the world. Your encouragement and constant feedback on how we can improve our offering has only made our determination and our commitment to these ideals stronger. Even during these difficult times that arise due to Covid-19, we continue to be committed to keeping you informed and up to date with credible news, authoritative opinions and sharp comments on current issues of relevance.
However, we have a request.

As we fight the economic consequences of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we have undertaken.

Support quality journalism and subscribe to Business Standard.

Digital editor

.

Leave a Comment