Asia Bizz: Auto manufacturer Renault announced on February 2, 2012 that it will soon launch a passenger car in the Indian market. The company even assured that the passenger car will be priced below Rs 4 lakh.

Marc Nassif, the country managing director of Renault India Pvt Ltd, said that Beyong Rs 4 lakh a car is their play ground today in India and they project to go below Rs 4 lakh. Marc disclosed the company’s plans at the sidelines of a programme to launch the Pulse, a hatchback in the B segment.

The country manager added that around 50 percent of the Indian passenger cars cost between Rs 2 lakh and Rs 4 lakh. Renault launched the diesel version of the Pulse and was priced between Rs 5.77 lakh and Rs 6.25 lakh in the month of January 2012.

The company also said that the plan to launch passenger cars was a part of their global strategy. Talking about the sales target in the country, Nassif said that once they have five cars on the road and 100 outlets then they will plan to sell one lakh cars. This is expected to happen in the year 2013 or 2014 and will also depend on how the models are doing and the growth of the market.