Monday, February 1, 2016

Renault opened its first factory in China despite the stagnant market – Yahoo Finance Spain

The French carmaker Renault (Xetra: 893113 – news) on Monday opened its first factory in China, which takes place late in the industrial implementation the world’s largest automotive market and at a time of stagnation.

“It’s the first big step” for the development of Renault in a crucial market, where it was virtually absent, said its chief executive, Carlos Ghosn during a ceremony at the new facilities in the metropolis of Wuhan in central China.

The Wuhan plant, the fruit of a joint venture with China’s Dongfeng, has a production capacity 150,000 vehicles annually, a rate to be achieved progressively.

At first, the factory will mount the Kadjar, the last ‘crossover’ of Renault, in a slightly modified version to entice consumers chinos lovers urban 4×4. Then, a second ‘crossover’ will be released in 2016 from Wuhan chains.

“We see an explosion in this segment in China and this will not stop. We arrived late but with good product ‘ conquer China, says Jacques Daniel, director of the joint venture, while acknowledging that the implementation takes place in a complicated situation.

Car sales in China progressed by 4.7% in 2015, 24 6 million units, but this represents a clear slowdown compared to increases of 14% and 7% registered in 2013 and 2014, respectively.

However, “China remains the main engine of growth the global automotive industry, “he said Ghosn.

China will represent the new growth focus group that sees its sales retreat in difficulty in major markets in Latin America or Russia.

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