Renault-Nissan targeting 10 per cent of Indian passenger vehicles market

Describing India as a "sophisticated country", Renault-Nissan Alliance chief Carlos Ghosn said the auto major was aiming for a 10-per cent share of the Indian passenger vehicles market.

The company also plans to launch a slew of new models from its stable, the report said.

Ghosn, chairman and CEO of Renault-Nissan Alliance, said that 2013 had been a disappointing year for the automobile the industry in India but 2014 should see slow recovery.

Ghosn told a television channel on the sidelines of the World Economic Forum (WEF) that the alliance would obviously move up in terms of market share, because it was moving from a very low level.

He added the alliance was practically insignificant in the Indian market, but it was targeting a 10-per cent market share of the Indian market.

He said in 2014 Renault & Nissan would launch a lot of new products.

In 2013, annual car sales in India were down over 9 per cent as the auto industry reeled under a prolonged demand slump due to economic slowdown.

According to the Society of Indian Automobile Industry (SIAM), domestic car sales last year dropped to 18,07,011 units from 19,98,703 units in the previous year.

Meanwhile, in another disclosure Ghosn said the first set of made-in-Nigeria 44 SUVs would be rolled out by Nissan Motors in April this year, Nigeria Bulletin.

He made the disclosure to Nigerian President Goodluck Jonathan at the ongoing World Economic Forum in Davos, Switzerland, the report said.

According to Ghosn, the vehicles would be rolled out of the old Volkswagen Assembly plant in Lagos, and about 2 to 3 million cars would be produced in Nigeria annually.

He told President Jonathan that the company was interested in producing popular cars totally adapted to the needs of Nigerians.

On his part, Jonathan, reiterated his commitment to Nigeria's new national automotive policy.