Renault to hold launch of new cars

 France based leading car manufacturer Renault has put on hold its plans of launching new cars till 2010 in India. Company is holding back launch of new cars because of falling demand and global credit crunch. Company is holding back the investment which was decided earlier for its Chennai plant.

In the year 2008 company announced an investment of Rs 4,500-crore with its Japanese partner Nissan for production of 4 lakh cars yearly over the period of seven years. But now company has decided to hold launch of new cars in India.

According to an official of Renault India the new cars of Renault which has been put on hold will roll out in India by the year 2010.