In 2004, the French car maker Renault launched Logan, a no-frills sedan priced at €5,000 euros ($6,000). Initially destined for emerging markets, the low-cost car became a huge hit in Western Europe where, due to the recession, budget-conscious consumers had begun seeking affordable products that deliver greater value for money. Sensing an opportunity, Carlos Ghosn, CEO of the Renault-Nissan Alliance (a strategic partnership between Renault and Nissan), launched the development of a whole new product line of entry-level vehicles under the Dacia brand.
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