After Tesla, Renault is thinking of reducing the price of cars.

After Tesla, the electric car maker, French car maker Renault is thinking about reducing the prices of cars globally to survive the competition.

Renault is reviewing its electric car pricing policy to stay competitive after US rival Tesla cut prices, a top executive told Reuters on Monday.

Meanwhile, after reducing the price of its cars several times in the United States, Tesla also reduced the prices of its cars in the European market on Friday. Including France. In addition, the price of Tesla electric cars has been reduced in Israel and Singapore.

On Monday, Renault brand chief executive Fabrice Camblev told reporters, “We will review each country and market and see how much competition we have to go through to survive in this game.”

Renault’s sales rose 9 percent in the first quarter of the year, indicating the company’s focus on a profitable model is turning a profit after four straight years of losses.

“Despite the very limited range of discounts, the sales of Renault’s Megane electrified model increased significantly in March,” said Fabrice Camblive. The price of the car is now the same as that of our main competitor, Tesla.

The starting price of Tesla’s Model 3 in France is 41,990 euros after a price cut last week. Whereas Renault Megane electrified model car price is 42 thousand Euros.

Renault sold 3,570 units of the Megane electrified model in France in the first quarter. Where Tesla Model 3 cars were sold 3 thousand 158. Although 9 thousand 364 cars of Tesla’s SUV Model Y have been sold in the country at this time.

Renault sees Tesla’s price cuts as a challenge.
Meanwhile, Renault sold 3 lakh 54 thousand 545 cars worldwide in the first quarter of the year.

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