Renault to launch sub-Rs. 4.5 lakh car in India

France’s Renault may launch a car priced below Rs. 4.5 lakh in India, a senior executive said on Monday, as the company looks to tap the biggest and fastest growing segment of the Indian car market.

“Half of the market we are not addressing. What is happening below Rs. 4.5 lakh, we don’t have any cars so that’s a big space,” Marc Nassif, head of Renault’s India operations told Reuters at the Indian auto show.

“Obviously, we want to go there,” he said, without giving details of the possible launch in that segment.

The company also plans to increase its dealership network in the country to 175 by the end of this year up from 125 at end December 2013, he said.