Renault-Nissan eye 5.7 per cent market share in India

Renault-Nissan Automotive India is eyeing 5.7 per cent of the market share in India by 2012. Both the companies have 50:50 joint venture floated for a passenger car project in Chennai. Nissan executive VP and chief recovery officer Colin Dodge told mediapersons here that their market share was increasing leaps and bounds in the potenial country. The company was investing heavily in new technology. Supporting his view, he said that the Indian car market to go past the 2-million unit mark by 2012 and the partners looking at a 5.7 per cent market share in India. He added that the experience in China and Russia had proved that this was achievable.
 By 2011, the Chennai car plant, coming up on 75.73 acre of the overall 640 acre allotted for the project, will export 1.10 lakh units. Later, this would be scaled up to 1.80 lakh units. Out of 350 billion yen earmarked for Nissan’s global investment plan for 2009, India would receive the largest share, its president and CEO Kiminobu Tokuyama said.