Search Result for : Renault

Renault and Iran enter into one of the biggest ever car deals, to produce 150,000 cars

The Dollar Business Bureau French car maker Renault and Iran signed a mega JV on Monday in the presence of the Iranian Industry Minister, Mohammedreza Nematzadeh. The JV could change the tide of the car maker in the oil rich Middle eastern country. Many Western companies have made a beeline to do business in Iran with the lifting of the sanctions. The joint venture was signed between Renault and Industrial Development & Renovation Organization of Iran (IRDO). Renault will be the majority shareholder holding 60% of the shares, with IDRO and another private player Parto Negin Naseh taking up 20% each. The production of the cars will begin in 2018, with both the parties agreeing to set up an engineering and sales centre ...

Ghosn to step down as Nissan CEO; Saikawa to take over from Apr

PTI Japan's second largest automaker Nissan Motor Co on Thursday said its long-serving leader Carlos Ghosn will hand over the role of CEO to Hiroto Saikawa, a company veteran. After leading the company for nearly two decades, Ghosn, the Chairman and CEO of Nissan at present, will focus on the functioning of "recent expansion of the Renault-Nissan Alliance to include Mitsubishi Motors". Saikawa, currently the co-CEO of Nissan, will assume the position of Chief Executive Officer on April 1, 2017, the company said in a statement. "Ghosn will continue to serve as Chairman of the Board of Directors, and he will seek a renewal of his mandate at the company's general shareholders meeting in June 2017," it added. ...

Industry 4.0 necessary to hike mfg share in GDP : Experts

The Dollar Business Bureau  Indian industry cannot ignore adopting Industry 4.0 and it has to focus more on making use of green technologies and best practices followed the world over, experts opined. This reaction comes in the wake of the Indian government setting its sights to increasing the share of manufacturing from 17 to 25 percent of GDP. And the government intends to do so in order to create millions of jobs and to push the country’s economic growth.  Speaking to the media about aiming for an increased economic share in GDP, Hospira Healthcare Managing Director, Srini Srinivasan said, “To achieve this target, Indian industry has to adopt Industry 4.0 as it is important to boost manufacturing,". He also added that adopting Industry 4.0 ...

Renault expects sales growth of 8% in India this year

The Dollar Business Bureau  French automobile manufacturer Renault expects that the company’s sales in India to rise by 8% in 2017, with the country becoming its eighth largest market globally driven by the successful entry-level small segment car model Kwid.  Groupe Renault, which witness a record worldwide sales of 31,82,625 units surging by 13.3% in 2016, recorded a sales growth of 145.6% in India.  “In India, Renault kept its position as best-selling European automotive brand, with sales up by 145.6%. Kwid registrations totalled 1,05,745. India rose five places to become the groups eighth-biggest market worldwide,” Renault said in a statement.  The company’s sales globally were growing for the fourth year in a row, it added.  “In the Africa/ India/Middle-East market, Renault’s registrations increased by 36.4%, providing ...

Renault plans multiple product launches till 2021 in India

The Dollar Business Bureau French automobile manufacturer Renault plans to introduce at least one new vehicle every year in the Indian market till 2021, comprising vehicles in the high selling sub-four metre division, even as the company aims to cross 5% market share in the local passenger vehicle segment by the year-end. “We plan to launch at least one new product every year, over the next five years, beginning with some exciting product innovations starting this year,” Sumit Sawhney, Managing Director Operations Country CEO of Renault India told PTI. The French auto major will keep launching ‘game changing products’ in India as it has been doing over the last few years, he said. Currently, Renault sells five models in the domestic market including hatchback Kwid and SUV Duster.  “India ...

Renault plans to increase volumes in India annually in sub-four metre section

The Dollar Business Bureau Chasing volumes in India, French car major Renault plans to launch more products in the high selling sub-four meter category even as it prepares to get past 5% market share by the end of 2017.The company, which currently sells five models in the country including SUV Duster and hatchback Kwid, plans more 'Made in India' products and to introduce one new car each year as parts of its "product development strategy"."In India most of the cars -- over 70% are less than 4 meters. The weight of mini segment where we have Kwid is 25%. So we have a large space to make our portfolio," Renault India Operations Country CEO and Managing Director Sumit Sawhney told the ...

Renault to set up plant in Pakistan by 2018

The Dollar Business Bureau French car major Renault has decided to set up a manufacturing plant in Pakistan by 2018. Pakistan's car market is presently dominated by Suzuki, Toyota and Honda, which have been often accused of colluding to fix prices for lower-quality versions of their models. "Renault has decided to invest in Pakistan. They will start assembling cars in Pakistan by 2018," Pakistan’s Board of Investment said in a statement.Board Chairman Miftah Ismail has been in discussion with several other foreign car makers including Fiat, Nissan, Peugeot, Renault and Volkswagen. In September, Ismail took with him Pakistan’s Finance Minister Ishaq Dar to France, where he met Renault leaderships and persuaded them to invest in Pakistan. Confirming the development on Twitter, Renault described it as an "exclusive ...

Kwid, Duster to be exported to Nepal from India

The Dollar Business Bureau French automobile manufacturer, Renault on Monday announced the commencement of exports of Kwid - its entry-level car and Duster - the popular SUV, to Nepal from its operations in India. Renault marked its entry into the market of Nepal by collaborating with Vishal Group - one of the biggest business groups. This is in line with the company’s strategy to enhance its presence in the region of SAARC, said the company in a statement. Sumit Sawhney, Renault India Operations Country CEO and MD said, “Nepal is an important market for Renault's growth in South Asia and we have carved out a clear-cut strategy to grow our presence in this important market with an ambition to be among the top players.”He further said that Renault is confident that Duster and ...