It may have taken many years for the world's largest automaker Renault-Nissan to enter the Indian geographies but now it is hands-on to the Indian market. In fact, after recently inaugurating its plant at Chennai, the company is expecting the Micra to be the answer to the competition in the Indian market.
The new plant of the company is spread across 650 acres of land and can produce up to 4 lakh units per annum.
Chief Executive Carlos Ghosn commented on Monday that the French car maker, Renault shall adjust the capacity of its 25 percent stake in the Russian AvtoVAZ if asked by the Russian government.
Renault bought the stake in AvtoVAZ for $1 billion in 2008, but the same got hampered due to the Russian car market going on a slow note due to the recent economic crisis.
After the AvtoVAZ group got piled under the debt it is now under speculation of many that whether the French automaker Renault would prepare for backing out from its stake.
Renault released its 2009 annual financial results today. Renault SA, France's second largest carmaker, reported its first annual loss in 13 years. The net loss was posted €3.1 billion ($4.3 billion) while in the previous fiscal the company reported a profit of €571 million.
Renault, the French automobile major, posted a loss this quarter leaving its shares to trade down by 5% in market. For the 2010 year ahead it has made no forecast to share in its transcripts.
Renault, the manufacturer of luxury machines is facing trouble due to economic slowdown in the global markets and expects a tough situation to combat within year 2010, as a 10 percent dip in the European market has given it a jitter on its nerves.
Carmaker Renault which has a joint venture with Mahindra & Mahindra for making Logan sedan for Indian market is planning to restructure the partnership with the Indian company.
The French automaker has also announced that it will operate in the country with its own dealer network. It plans to start with 15 dealers by mid-2011 and increase to 150 in the next 30 months, the company said.
The company expects that Indian market to triple in size in the next decade and it does not believe that it is a late entry into the market.
Bajaj Auto, Indian auto major, has entered a deal with Renault-Nissan Alliance to produce and market an ultra low-cost car.
According to the agreement, Bajaj will only design and manufacture the new car, while the Renault-Nissan will shoulder the responsibility of marketing the vehicle in India and abroad.
The would-be low cost car, which will be branded under the French partner’s name, is expected to hit the roads in 2012.
The Renault-Nissan combine and its Indian partner Bajaj Auto Ltd will roll out an ultra low-cost car in 2012 that will cost less than Tata Motor’s Nano, the world’s cheapest car.
The proposed car — codenamed ULC — will also consume less fuel than any other four-wheeler on the Indian road, said Carlos Ghosn, president and chief executive of both the French and Japanese carmakers.
The success of the car is crucial to Renault-Nissan, which commands 10 per cent of the global market but accounts for only 1 per cent cars sold in India.
Paris - French tuner Ludovic Lazareth, known for his passion to create extravagant motorcycles, has created a supermini by crossing an elderly Renault Twingo with a Rover V8 engine.
With the short snout of the Renault offering little space for the 3.5-litre engine, Lazareth placed the unit in the rear seat area where 180 hp is transmitted to the rear wheels via a five-speed manual gearbox. It is a configuration Renault itself has used for the Renault 5 Turbo, Renault Clio V6 Renault Sport and the Renault Megane Trophy.
New Delhi - Carmakers Renault SA, Nissan Motor Co and their Indian partner Bajaj Auto are to launch a low-cost microcar in India by 2012, Carlos Ghosn, the chief executive of the Renault-Nissan alliance, said Tuesday.
"Yesterday, we signed an agreement that the low-cost car will be out in 2012. It is going to be an innovative product, the manufacturing cost will be lower than any other available in the Indian market," Ghosn was quoted as saying by IANS news agency.
Moscow/Paris - French carmaker Renault will not invest more money in troubled Russian market leader AvtoVAZ, despite a threat by Russian prime minister Vladimir Putin to dilute Renault's 25-per-cent stake in the company should it refuse to do so.
Russian media reports Tuesday cited Christian Esteve, a member of Renault's management committee, as well as the board of directors of AvtoVAZ, saying that Renault would supply technology to help modernize the Russian auto giant, but not more money.