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Renault India’s losses in FY18 grow over twofold to Rs 850 crore

The Indian unit of the French automaker, Renault, more than doubled its losses to Rs 850 crore for the fiscal ending March 2018, due to stiff competition and subdued demand for its existing products. The company’s net loss during the fiscal 2016-17 was Rs 360 crore. In FY18, when the overall passenger vehicle segment grew by around 8% year-on-year, Renault India’s domestic sales fell around 25% y-o-y to 102,222 units. Renault India, which plans to make India an export hub for emerging markets, also saw a hit on exports with negligible growth during FY18. 

Read More at The Financial Express News date : 11 Jan 2019, Friday

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