Renault looks to enter India's low-cost car segment

GREATER NOIDA, India Wed Feb 5, 2014 11:02am IST

The Renault automaker company logo is displayed outside a car dealership in Bordeaux, Southwestern France, March 1,2013. REUTERS/Regis Duvignau/Files

The Renault automaker company logo is displayed outside a car dealership in Bordeaux, Southwestern France, March 1,2013.

Credit: Reuters/Regis Duvignau/Files

Related Topics

Stocks

   

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)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Markets

REUTERS SHOWCASE

Segway in India

Segway in India

Segway’s India business pegs hope on tech-savvy Modi  Full Article 

Power Outage

Power Outage

Mumbai hit by power cuts  Full Article 

Commodities

Commodities

Gold imports, premiums to jump on festive demand - top refiner  Full Article 

Economic Worries

Economic Worries

Pakistan's promises to IMF in doubt as protests sap economy   Full Article 

Islamic Finance

Islamic Finance

Basel III deposit challenge looms over Islamic banks   Full Article 

Antitrust Probes

Antitrust Probes

U.S. business lobby says concerned China antitrust probes unfair.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage