Renault Executive Says Too Early To Assess Luxury Push

PARIS -September 26, 2002; Dow Jones is reporting that French car maker Renault SA Thursday said it is too early to assess its push in high-end segments despite the weak commercial start of its flagship luxury sedan Vel Satis and minivan coupe Avantime.

"We must remain calm and persevere," Renault Commercial director Francois Hinfray said in an interview with Dow Jones Newswires. "Establishing Renault in high-end segments can't be done overnight."

Hinfray said Renault turns out fewer than 100 Vel Satis and around 40 Avantime a day. That is significantly below objectives of 220 and 60 for the two models, respectively.

The Renault executive, however, said previous experience has shown it takes around two years for new models with distinctive design to reach their cruise production level.

"I'm not worried," Hinfray said. "We will assess our ambition for high-end segments at the end of 2003."

The Vel Satis and Avantime were launched in early 2002.