Renault has put on hold its plans to introduce cars in the Indian market from the upcoming Chennai plant on account of global slowdown, which has affected the firm’s worldwide operations. Renault had already stopped hiring for production activities in its upcoming Chennai facility, is waiting for market conditions to improve.
Renault is a French car manufacturer that was found in 1899. Renault has a controlling stake in Nissan and the Renault-Nissan alliance together is the fourth largest automotive group in the world. Renault is present in India since 2005, when the French carmaker had a joint venture with Mahindra and manufactured Renault Logan until 2011. Renault commenced individual sales in India in 2011 with the introduction of Renault Fluence and Koleos. Renault also offers re-badged Nissan products in India like the Renault Pulse and Scala. After the introduction of the Renault Duster SUV, Renault climbed up the sales chart. Currently Renault offers five cars in India.
French auto major Renault has temporarily put on hold its plans to launch cars in India by 2010 in the wake of the global slowdown as the company has decided to hold back on investments on assembly line at its Chennai plant. The company, which had last year announced a Rs. 4,500 crore investment over … Read More