Renault to bring in small compact Renault Yeni in India
Mahindra and Renault have failed miserablely to show their dominance in the Indian Market with Mahindra Renault Logan. Now, they both are working to come with a new small car in the domestic market which is going to be sold as Renault Yeni. Price of this car is exepected to be in the range of Rs. 1-2 lakhs.
The car is designed symetrically and can give stiff competetion to other cars ranging 5 lakhs and above. The car has got stylish looks and has aero dynamic build with new age designs and features. The car is expected to priced Rs. 1.30 lakhs and above. Renault Yeni will be sold through Mahindra and forthcoming Renault dealerships across India and is expected to compete with cars like Tata Nano and upcoming sub compact car from Bajaj Renault Nissan.
Renault along with its partner Nissan is going to spend Rs. 4500 Crores in the domestic market to establish a manufacturing facity in Chennai. This plant will have the capacity to manufacture around four lakhs vehicles annually. Renault has planned to launch its complete range of vehicles by next four years in India.
Though the sales figures of Mahindra Renault Logan were not impressive in the domestic market but the sales of this car has mounted up in Europe. In Europe Mahindra Renault Logan is sold as Renault Dacia. Recently, Renault facility of Romania introduced the one-millionth unit which is an exception figure. Renault will also bring in a small compact car by 2011 in joint venture with leading automaker Nissan and two wheeler automotive brand Bajaj.
Moreover, MahindraMahindra the leading automobile group have just signed an agreement with Ssangyong, South Korean Automaker. The deal will be closed by 2011 and Mahindra will pay to Rs. 2000 crores to the in loss Ssangyoung Motors. The initiative taken by Mahindra Mahindra is simalar to its domestic competetor Tata Motors who took over the British premium automaker Jaguar and LandRover. It is expected that the deal between the Korean and Indian SUV manufactures will make the domestic markets to establish in global markets.
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