Chennai, April 13 (IANS): The newly launched multi-purpose vehicle (MPV) Lodgy, offer of finance under Renault Finance, to be launched sub-four metre car, soon to be launched used car business are part of the Renault India version 2.0, said a top company official.

"With Lodgy, Renault India version 2.0 has been launched. We will soon launch a sub-four metre car and the used car business. The launch of Renault Finance offering funding options and the expansion of our network are part of the game plan to gain five percent market share by 2016," Sumit Sawhney, country CEO and managing director, Renault India told reporters here on Monday.

He said Renault has also expanded its design studio by setting up one here. The company has one design studio in Mumbai with around 15 people.

Launching the MPV Lodgy here, Sawhney said that the used car business is under pilot stage while the Renault Finance business was launched recently.

"These two businesses along with insurance services would offer additional revenue opportunities for our dealers," he said.

The company's new model Lodgy is priced between Rs.8.30 lakh to Rs.11.90 lakh.

"We are not a price point player to build volumes. Our model is priced right," Sawhney said.

He said in 2015, MPV is one of the car segments that has logged growth.

According to him, with the development of roads and economy the MPV segment is sure to log growth over several years to come.

Sawhney said the company would increase its dealer network from the current 157 to 280 by 2016.