Renault SA and Nissan Motor Co. are planning to offer a vehicle priced at 2,500 euros ($3,400) in emerging markets, according to the French newspaper La Tribune in an article released ahead of its Wednesday publication. The article, which cited unidentified internal sources, revealed that the vehicle could later on reach the European market.
Gerard Detourbet, who will take on his role at Renault-Nissan effective January 1, will manage the development of the automobile.
Detourbet has also previously led the development of Renault's so-called "Entry range," or low-cost, vehicles such as the Sandero and Logan. Renault has yet to comment on the issue.
La Tribune further disclosed that the 2,500-euro vehicle, which is yet to be developed, would compare with the 7,700-euro Logan in France. Renault's entry-level program achieved about 685,000 sales last year.
This figure is equivalent to more than one-fourth of Renault's total sales of 2.6 million cars and light vehicles around the world. Entry-level vehicles are targeted at emerging markets.
However, they have also been a success in more mature markets. The top five markets of the entry program in 2010 were France, Brazil, Russia, Germany and Iran.