Renault targets Russia with new Symbol car

Renault will next week present the Renault Symbol, a replacement of its ageing Clio Symbol in a bid to boost sales in what will become Europe's biggest market.

A spokesman said on Wednesday that the new model will be unveiled at the Moscow Motor Show on Aug. 26. The Symbol has a boot unlike the hatchback main version of the Clio compact car.
Renault said it is targeting Central and Eastern European markets, Russia, Turkey and the Maghreb countries with the vehicle. In particular among these, Algeria, Romania, Russia and Turkey will be important markets, a Renault spokesman said.
France's second-largest auto group will begin selling the vehicle from the end of September in some target markets, a spokesman said.
Its predecessor was launched in 2000 and has sold over 600,000 units in its life. The spokesman declined to give a sales target for the new model, but noted that the previous version - the Clio Symbol - sold 100,974 units in 2007.
The new Renault Symbol will be assembled at the group's Bursa facility in Turkey, which has been expanded to allow for production of 360,000 vehicles overall per year.
Last year, 263,000 vehicles were produced there. Russia is currently the group's 8th-largest market by car and LCV sales, including its Dacia and Renault Samsung Motors brands. Last year it recorded 101,166 vehicle sales and a 3.9 percent market share in the fast-growing market.
At the start of the year Renault CEO Carlos Ghosn forecast growth in Russia above 10 percent for the group in 2008.
Main competitors for the new vehicle will include the Skoda Fabia, the Chevrolet Aveo, the Honda City and the Hyundai Accent, the spokesman said.. Renault last year bought a 25 percent stake in Russia's largest domestic car maker.