Chennai: French automobile maker Renault will launch two new models next year, marking its entry into the volume and growth segments, a top company official said.

The company aims to move towards its target of having five percent share in the Indian market in next three years.

“Renault’s focus in 2015 will be on introducing two new products in very exciting segments-the MPV (multi-purpose vehicle) and the A-entry segment, which is the heart of the Indian automotive industry,” Sumit Sawhney, the country CEO and managing director of Renault Operations in India, told.

“We are taking major steps to increase our presence in India and will be entering the volume and growth segments to strengthen our position in India.”

“We have a long-term focus on the market and are working towards achieving a five per cent market share in the medium period, within the next three years. This will be done both by launching new vehicles as well as expanding our dealer network,” he added.

According to Sawhney, Renault India will further expand its facilities next year, which will be one of the fastest ramp ups by an automobile manufacturer in India.

He said the proposed MPV will create a niche in the segment as the company did with its sports utility vehicle (SUV) Duster.

“Our A-entry offering will be an exciting package with unique design cues. We are looking to increase our presence in the tier II-IV markets which will play a key role in the growth of the automobile industry in India, and our A-entry will play a key role in meeting this objective,” Sawhney said.

Saying that Renault has a clear cut plan chartered out not only for 2015 but also for longer term, he said the company is working on its product strategy for 2016 onwards as well.

Terming 2014 as the year of consolidation for Renault India, Sawhney said: “While we focused on the present, we also worked towards building a strong runway to be future ready and expand our presence in India.”

Renault India models are rolled out of  Pvt. Ltd.’s plant near here.

The plant, a joint venture between Renault and Nissan Motor Company, rolls out Renault and Nissan branded cars.

He said, during 2014, Renault kept its product range fresh and contemporary and also grew its network presence to over 145 sales and service outlets across the country.