French car group Renault expects new models to be launched in 2024, as well as price cuts for the Megane model, to help it better compete with US rival Tesla in the French market, a Renault executive told Reuters on Wednesday. Agerpres.

Renault Megane at the charging stationPhoto: Jc Milhet / AFP / Profimedia Images

“The main concern of the Renault brand in 2024 is to return to the offensive in the electric segment, given that we are currently second,” said Ivan Segal, French sales director of the Renault brand.

Even if it pioneered the electric vehicle segment in the past with its Japanese partner Nissan, Renault has been squeezed by new competitors in the segment in recent years.

Last year, Renault sold nearly 18,000 units of the new electric Megane in France, Tesla sold 25,000 Model 3s and more than 37,000 Model Ys, putting it at the top of the electric car market in France, according to AAA Data. consultations

Chinese brand MG also sold 20,000 MG4 electric cars in its first full year in the French market.

Renault is attacking Tesla’s market share in France

Renault’s counterattack will include the launch of the new electric Scenic and the launch in the second half of this year of the R5, two models that will replace the aging Zoe and Twingo. Also, Renault, which last year abandoned Tesla’s price reduction policy, decided that in January 2024, the starting price of the Megane model will decrease by 10% from 38,000 to 34,000 euros.

If you also take into account the fact that the bonus offered by the French government for the purchase of electric cars does not apply to the Model 3 and MG4, the Megane’s advantage over the Tesla is even greater, and the model offered by Renault is even cheaper than the Chinese competitor.

“There is more competition in terms of pricing or leasing than it was a few months ago, and it will take a few more years for the EV market to stabilize,” Segal said.

Renault Group also relies on the complementarity of its four brands – Renault, Dacia, Alpine and Mobilize. Present in more than 130 countries and with more than 111,000 employees, the group sold 2.1 million vehicles in 2022.