PARIS: French car maker Renault SA is hoping to shed its utilitarian mass-market image by taking on Porsche with a new low-slung, high-end sports car.
The limited-edition Alpine 110 two-seater with a four-cylinder turbo engine — a revival of a once-popular model shuttered 20 years ago — was unveiled at the Geneva auto show on Wednesday.
Renault, which last year overtook French rival PSA Group as Europe’s second-biggest carmaker, is seeking to add panache to its range by selling more expensive models. While Renault been gaining market share with a fresher, more upscale lineup including the new Megane hatchback, its effort to lure wealthier buyers comes at a risky time as the region’s demand for autos cools after three years of growth.
“The sports car market is a little bit in decline and Porsche is a key competitor in that space,” said Ian Fletcher, an analyst at forecaster IHS Automotive.
The French manufacturer isn’t alone in reaching higher. PSA launched its premium car brand DS two years ago, and Porsche parent Volkswagen AG this week unveiled a new upscale Arteon fastback from its namesake VW brand to compete with Mercedes coupes at a lower price. Carmakers are pushing more expensive models in order to raise the funding needed to pay for costly investments in electric and self-driving technologies.
