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Hi guys just came across this, Itss really shocking, looks like all the plans for the fluence/duster/koleos have gone for a complete toss. Have a go thru. Just today I saw an ad by Renault inviting agencies for dealerships.
Renault puts on hold India car launch plans indefinitelyPress Trust of India / New Delhi April 21, 2009, 12:33 IST
French auto major Renault has put on hold indefinitely its plans to introduce its cars in the Indian market from the upcoming Chennai plant on account of global slowdown, which has affected the firm's worldwide operations.
"We have indefinitely put on hold our product plans...It is because of slowdown that has affected us globally," a senior Renault India official told PTI.
The company, which had already stopped hiring for production activities in its upcoming Chennai facility, is waiting for market conditions to improve.
When contacted, a Renault India spokesperson said, "The construction of the plant is going on, but we have frozen our product plans due to downturn in the global economy.However, we have left our product plan at such a stage that whenever we want to defreeze it, without loss of any time we can do (that) and ramp up the production." While investment for construction of the plant was going on, it has been put on hold on product plans, he added.
Renault India had last year announced plans to invest Rs 4,500 crore over a period of seven years to produce four lakh cars annually from the Chennai plant in alliance with Japanese firm Nissan.
Wow this is big news but not totally unexpected. Europe is reeling under financial crisis and I am sure Renault would be cash strapped as many European companies are.
Quote:
Originally Posted by Palio_2005
(Post 1963730)
Wow this is big news but not totally unexpected. Europe is reeling under financial crisis and I am sure Renault would be cash strapped as many European companies are.
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Very true, But ever wondered what stops renault from giving cars which are running on decade old platform and engines. lol:
This is big news.. Weren't they advertising for dealers in the major newspapers up until a couple of days ago??
Quote:
Originally Posted by MihirC
(Post 1963678)
Hi guys just came across this, Itss really shocking, looks like all the plans for the fluence/duster/koleos have gone for a complete toss. Have a go thru. Just today I saw an ad by Renault inviting agencies for dealerships.
Renault puts on hold India car launch plans indefinitelyPress Trust of India / New Delhi April 21, 2009, 12:33 IST
French auto major Renault has put on hold indefinitely its plans to introduce its cars in the Indian market from the upcoming Chennai plant on account of global slowdown, which has affected the firm's worldwide operations.
"We have indefinitely put on hold our product plans...It is because of slowdown that has affected us globally," a senior Renault India official told PTI.
The company, which had already stopped hiring for production activities in its upcoming Chennai facility, is waiting for market conditions to improve.
When contacted, a Renault India spokesperson said, "The construction of the plant is going on, but we have frozen our product plans due to downturn in the global economy.However, we have left our product plan at such a stage that whenever we want to defreeze it, without loss of any time we can do (that) and ramp up the production." While investment for construction of the plant was going on, it has been put on hold on product plans, he added.
Renault India had last year announced plans to invest Rs 4,500 crore over a period of seven years to produce four lakh cars annually from the Chennai plant in alliance with Japanese firm Nissan.
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Look at the news date (April 2009) that was when the world economic crisis was at its peak.
This is OLD news. I believe the renault plan is still on.
Well, Indian market is expanding like crazy - they can wait for the world and lose share here, or start off small time and gain foothold here and catchup with the world market when things improve. They are forgetting that Indian market has helped change the fortunes of many brands!
What recession? I thought recession was behind us. And what relevance does a > 1 year old news item have?
Note from Support:
The quoted article is more than a year old. Renault are entering the Indian market after a showcase at the Auto Expo this year. Hence this does not warrant a new thread. This thread is now closed
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