After a series of price cuts by US rival Tesla, Renault will review its pricing policy for electric cars worldwide to ensure the French automaker remains competitive. That said, Fabrice Cambolive, the boss of the car brand Renault, during a press conference following the sales figures for the first quarter.
“We will analyze by country and by market what level of competitiveness we need to stay in the game,” said Cambolive. After several price cuts in the United States, Tesla lowered prices in Europe last Friday, including in Renault’s French home market, as well as in Israel and Singapore. The American car maker also expanded the global discount campaign that had started in China in January.
Sales of the Renault car brand rose by 9 percent in the first quarter. This indicates that the strategy of producing and selling the most profitable models is starting to pay off after four years of declining revenues. The sales figures of the French car group Renault, including Dacia and Alpine, will be announced on Thursday.
According to Cambolive, the recovery continued in April as well. However, he did warn that Tesla’s price cuts are a wake-up call for competitors. For example, sales of Renault’s electric Mégane increased sharply in March, but the model now costs the same as the Tesla Model 3. After last week’s price reduction, the starting price of the Tesla Model 3 in France is 41,990 euros, compared to 42,000 euros for the Megane E-Tech.
The Mégane E-Tech sold 3,570 units in France in the first quarter, compared to 3,158 units of Tesla’s Model 3. The American automaker also sold 9,364 of its more expensive Model Y SUV in the country.
