Renault Must Develop Premium Segment, COO Tavares Tells Figaro

Sept. 3 (Bloomberg) -- Renault SA needs to develop in the premium-car segment to highlight its capabilities and better use the auto maker’s Formula 1 successes, Chief Operating Officer Carlos Tavares said in an interview, Le Figaro reported.

The automobile maker wants to raise the resale value of its cars, which is below that of Volkswagen AG vehicles even though surveys show their reliability is at least comparable, Tavares said, according to the newspaper.

The premium segment could include cars that are both sporty and luxurious, Tavares told Le Figaro. Renault is working on several models, though a decision hasn’t been made yet, he said, according to the daily.

To contact the reporter on this story: Rudy Ruitenberg in Paris at rruitenberg@bloomberg.net.

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net.