Renault LogoRenault is looking into making a budget car even cheaper than the Renault Logan, and its production base and initial market will be India, home of the Rs 1-Lakh car project. Renault wants its new budget car to cost US$3,000 – about Rs 1.19 Lakh.

“The big question is what will have to be done to bring this car up to export quality. It will have to be modified, sure — and what will be the cost of these modifications so it’s viable? Logically, Brazil would be a natural market. Brazil is one of the strategic markets (for Renault) for the future, along with Russia, China and India,” said Renault chief Carlos Ghosn.

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