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

Jan Dhan Yojana

REUTERS SHOWCASE

Japan Trip

Japan Trip

Modi eyes breakthrough nuclear pact on Japan trip.  Full Article 

Chance For Reform

Chance For Reform

India's coal crunch - a chance to revamp, reallocate and revive.  Full Article 

E-Commerce

E-Commerce

Ratan Tata invests in online retailer Snapdeal.  Full Article 

Top Priority

Top Priority

Finance minister says food inflation is top priority.  Full Article 

Deal Talk

Deal Talk

Who wants to buy Snapchat? Microsoft, Google, Apple, Alibaba.  Video 

Fresh Funding

Fresh Funding

Tiger Global leads $65 million funding in Indian messaging app Hike.  Full Article 

GDP Preview

GDP Preview

Economy likely grew faster in June quarter: Reuters poll.  Full Article 

Safety Net

Safety Net

SEBI revamps trading safety-net rules.  Full Article 

Fraud Investigation

Fraud Investigation

IMF's Lagarde put under investigation in French fraud case.  Full Article 

Reuters India Mobile

Reuters India Mobile

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