Paris : French auto major Renault plans to enter new verticals, including used car business in India next year, besides launching two new models, to make its presence felt in the market which it sees as “the biggest challenge”, reports PTI.

The company, which is targeting a market share of over 5 per cent in India, is also leveraging on its 4,500 strong R&D Centre in Chennai to come up with products which are “right for the country”.

Spelling out its new business plans Renault Chairman of AMI (Africa, Middle East and India) Region Bernard Cambier told PTI on the sidelines of Paris Motor Show: “We have plans to develop some new services. I have ambition with Sumit Sawhney (Renault India Country CEO and MD) to develop the used car business and lot of things like that.”

On preparations for the launch of a multi purpose vehicle (MPV) and sub-Rs 4 lakh car in the Indian market, Sawhney said the company is working to develop “right products at right price” as it wants to have a strong entry in the two volume segments.

Munish Shekhavat

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