On the back of the announcement tha GM plans a massive investment in the Brazilian market, Renault-Nissan CEO Carlos Ghosn has stated that the company must double its market share in Brazil to at least 10 percent to stay competitive and fend off rivals in Latin America's largest economy.
The car maker needs to add new models to foster growth in a market that sells about 3 million units a year, Ghosn told journalists.
He said that current models are "incompatible with a 10 percent to 20 percent market share," which the company wants to attain.
Renault controls 5 percent of the Brazilian market for family vehicles, which has boomed this year after a series of government tax breaks that were aimed at helping industrial production emerge from its worst downturn in more than a decade.
Source: Automotive News
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