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Renault to cut its Indian sales targets
By Yoann Besnard on 27 March 2008 | 
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Renault has cut its Indian sales targets as growth was not as fast as expected. However the carmaker still plans to launch a budget car in India.
In an interview with the Mint newspaper, Renault India managing director Sylvain Bilaine said Renault had not “grown as fast as we expected. It's a new brand, it's a new car, it's a new network.We are working both on pink (optimistic) and more black (pessimistic) in case the economy would really plummet."
The sales targets have been decreased due to the market slowdown on the compact car segment. Renault stays optimistic and is currently working with Bajaj Auto on the feasibility to make the £1,500 car intended to take on the Tata Nano. "We are on track on the costing, which is the most difficult. Now our engineers are working with what our product planners had summarised. It's (taking) a bit longer than anticipated," the paper quoted his as saying.
