Jeep India positive on auto sector outlook; to launch new products – World Affairs SRS

Jeep India positive on auto sector outlook; to launch new products

– World Affairs SRS

Jeep India, which posted a strong growth of 130 per cent last year despite a bumpy ride due to the pandemic, is positive about the outlook for the domestic automobile industry and is set to launch new products this year.

Moreover, it is expected that the Omicron variant will further grow in the market despite concerns over the influence of Jeep India chief Nipun Mahajan.

Inspired by the facelifted version of the SUV Compass and the locally assembled Wrangler in February 2021, Jeep India sold 12,136 units in 2021 as compared to 5,282 units in 2020. This represents a 130 percent increase in its vehicle sales.

Jeep is a part of the portfolio of brands offered by leading automaker and mobility provider Stellantis. Currently, the Jeep brand has two products in its India portfolio – the Compass and the Wrangler.

While it has been producing the Compass at the Ranjangaon facility near Pune since June 2017, the company started local assembling the Wrangler from the same facility in mid-March last year.

“We are quite positive on the outlook because of the market’s resiliency. In the last 4-6 years, the market has gone through many ups and downs, adjusting to various factors, but the bounce is very good,” Mahajan told PTI.

Noting that sectors grew 20 percent in 2021 over 2020, he said, “The market will grow (further). Certainly, we’ll have some glitches, as we’re starting with Omicron, but despite that, The Indian consumer has the potential and need to grow the automotive industry. This will help the market grow in 2021″.

According to him, 2021 was a very good year for the Jeep brand in India, with sales registering a whopping 130 per cent growth at over 12,000 units as compared to a year ago.

Mahajan said, “There were impacts of COVID on the business as the year started, but I think we all have recovered very well. Jeep India saw a 20 per cent growth in volumes in 2019 over 2021, which is the peak of the pandemic. There was a period before that.”

The launch of the new Jeep Compass with strong product features has received an overwhelming response from the customers, he said, adding that some of the customer centric initiatives that the brand took after the easing of the lockdown situation helped in garnering good traffic in the showrooms.

Mahajan said, “2022 is going to be a huge year for us as we launch two new products. And starting with the Compass Trailhawk in February this year, we will see a lot of action on the Compass as well.”

The Jeep brand in the premium segment is very well covering both the starting and ending point of the segment in the domestic market, he said, adding, “We are only going to strengthen our position with the new products that we are going to come across. With”.

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

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

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