French auto maker Renault plans to double its sales in India to two lakh units per annum by 2022.

Last year, the company had sold 80,000 units.

Globally, Groupe Renault aims to increase its sales by over 40 per cent with a target of more than 5 million vehicles by 2022, Thierry Bollore, CEO of Groupe Renault, said at the global unveiling of its new sub-4 metre vehicle Triber in New Delhi on Wednesday.

“India is a key market for us. Over four million vehicles were sold in the market in 2018. It is going to be the third largest auto market in the world by 2022,” said Bollore.

On his expectations from the Indian market where sales have been consistently down over a period of time, Bollore said: “All markets worldwide are facing turbulence. They are not as strong as last year. Indian market conditions are not a regional phenomenon.”

On Renault’s performance in India, he said, “We are on a learning curve. It is one of the most difficult markets. Customers here want value, they want to buy smart and the market is very competitive. We are constantly innovating to meet this delicate equation between cost and value,” he said.