Driven by the facelift version of the Compass SUV in February 2021 and the locally assembled Wrangler, Jeep India sold 12,136 units in 2021, up from 5,282 units in 2020. This reflects 130% growth in vehicle sales.
Jeep is part of the portfolio of brands offered by leading automaker and mobility provider Stellantis. Currently, the Jeep brand has two products in its Indian portfolio: Compass and Wrangler.
While producing Compass at the Ranjangaon factory near Pune since June 2017, the company started local assembly of Wrangler from mid-March last year from the same factory.
“We are quite positive on the outlook due to the resilience of the market. Over the past 4-6 years the market has gone through a lot of ups and downs, adjusting to a variety of factors, but the rebound is pretty good, ”Mahajan told PTI.
Noting that 2021 itself has seen 20% growth in all segments compared to 2020, he said that “the market is going to grow (again). We will, of course, have some disruption as we start with Omicron, but despite this the Indian consumer has the capacity and the requirements to develop the automotive industry. This will help the market to grow in 2021 ”.
According to him, 2021 has been a very good year for the Jeep brand in India, with sales up 130% to over 12,000 units from the previous year.
“There were COVID implications on the business at the start of the year, but I think we’ve all recovered very well. Jeep India also saw its volume increase by 20% in 2021 compared to 2019, which was the pre-pandemic period, ”said Mahajan.
The launch of the new Jeep Compass with strong product attributes received an overwhelming response from customers, he said, adding that some of the customer-centric initiatives the brand took after the easing of the foreclosure situation also helped him get good traffic in the showrooms.
“2022 is going to be a very big year for us with the launch of two new products. And we’ll have a lot of action on Compass as well, starting with Compass Trailhawk in February of this year, ”said Mahajan.
The Jeep brand being in the premium segment covers both the starting point and the 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 be offering. with”.
Additionally, Mahajan said the company has already invested $ 250 million for new product development, and Jeep will continue to invest in new products here.