MADRID – Renault SA reduces output of its Modus multi-purpose vehicle to just 700 daily at its plant near Valladolid, Spain. Last May, Renault reduced output at the plant to two shifts, lowering production of the Modus to 900 daily. Modus sales fail to meet expectations. The latest reduction is in direct response to lower sales of the Modus. Analysts speculate the sluggish demand is a result of the high price Renault set for the Modus in an attempt to avoid cannibalization of its ...
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