Renault says it must respond to Chinese carmakers’ growth in Europe

Renault says Chinese carmakers have taken 12% of Europe’s market share in recent months, as their sales grow in countries including Spain and the UK.

Renault executive Ivan Segal said the company must respond to their expansion across electric and other types of cars.

He questioned how well Chinese cars will hold their value after two to four years, a factor that can affect buyers who choose cars based on monthly payments.

Renault says resale value, a range of models and local dealers can help it compete, pointing to its hybrid and electric cars and more than 3,000 dealers in Europe.

Segal also called for fair competition, while saying Renault is open to cooperation with Chinese brands when it benefits both sides and supports local production.

Renault has already worked with Chinese companies, including Geely in Brazil, where Geely uses Renault’s local facilities and sales network while Renault uses Geely’s electric-vehicle platform.

The company is applying lessons from a past project with a Chinese partner, which developed the Twingo in 21 months, to other vehicle types.