Renault to build low cost car for new markets

Calcutta News.Net
Friday 15th June, 2007

French car maker Renault is considering producing a super low-cost car for emerging markets.

Renault will design a US$3,000 model in India, which would rank as one of the world's cheapest cars.

The French car maker will hire 1,000 engineers to design the low-cost model.

Annual car sales in India are expected to double to 2 million by 2010 with small cars making up more than two-thirds of the market.

Already an Indian rival is planning to put a car on the market which it hopes will cost less than US$3,000 before tax.

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