Jeep eyes sub- ₹25 lakh segment to stay 'relevant' in India
₹25 lakh segment, which has the highest sales volumes India. The brand, part of the multinational automotive giant Stellantis, has struggled in its eight-plus years in India – Its models like the Compass and Meridian have made little headway, largely owing to their relatively high prices, and the lack of a 'mass-market' product. Now, it may be set to change that.
"If we want to stay relevant in India, we have to play in the sub- ₹25 lakh market for SUVs", Shailesh Hazela, MD and CEO, Stellantis India, said in an interview. "It's (the plan) is on the drawing board. We are taking the time to understand what works, how we integrate, and how we can achieve our objective," Hazela said.
"It is at the top of the leadership's mind," he said. Jeep could be planning a more affordable variant of its Compass SUV and an upgrade of its 7-seater SUV Meridian, in order to attract a broader customer base. While Jeep's sales in India have been impacted by the discontinuation of its petrol engine, export volumes are rising, with the Meridian being sold in markets like Japan and Australia.
Notably, 40% of Jeep's volumes come from exports. Stellantis is also betting on its French brand, Citroen, to strengthen its presence in India. Citroen's upcoming launch of the Basalt, an SUV coupe, will compete against upcoming mid-sized and premium SUVs from Tata and MG Motor India.
Shishir Mishra, brand director at Citroen India, said the brand plans to more than double its dealerships from 85 to 200 by the end of 2024. "The expansion will target tier-2 and tier-3 towns and deepen our presence in existing tier-1 markets we are present," Mishra said. "We have the confidence of our existing dealers to expand with us.
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