Renault looks to enter India's low-cost car segment
GREATER NOIDA, India
GREATER NOIDA, India (Reuters) - France's Renault (RENA.PA) may launch a car priced below 450,000 rupees in India, a senior executive said on Monday, as the company looks to tap the biggest and fastest growing segment of the Indian car market.
"Half of the market we are not addressing. What is happening below 450,000 rupees, we don't have any cars so that's a big space," Marc Nassif, head of Renault's India operations told Reuters at the Indian auto show.
"Obviously, we want to go there," he said, without giving details of the possible launch in that segment.
The company also plans to increase its dealership network in the country to 175 by the end of this year up from 125 at end December 2013, he said.
(Reporting by Aradhana Aravindan; Editing by Jeremy Laurence)
- Tweet this
- Share this
- Digg this
- China should set lower 2015 GDP growth target of 6.5-7 pct - IMF
- Netanyahu vows to complete Gaza tunnels destruction
- U.S. says hopeful of WTO deal with India only hours before deadline
- Cricket - India four down and facing England defeat
- UPDATE 2-Argentina defaults but investors see deal possible eventually
The United States said on Thursday it was hopeful that differences between India and much of the rest of the world over a major trade agreement could be resolved in time, with only hours remaining before the deal has to be signed. Full Article
ONGC, Oil India bid $1.5 bln for stake in Murphy Oil's Malaysia assets - sources Full Article