The French car company Reno has raised a ray of hope at a time when economic activity has come to a standstill due to the long lockdown, the economy has slowed down, and the employment crisis has been overshadowed. Reno India has decided to increase the salaries of its employees.
French car manufacturer Reno India Private Limited has decided to increase the pay of its more than 250 employees, an increase of up to 15 percent. Despite the cash crisis, the company will also give promotions to more than 30 employees, which will be applicable from August 2020.
The company is believed to be very happy with the success of its sub-compact 4-meter small MPV car, the Tribar, and the company will soon launch it with a turbo petrol engine around the festive season. The company wants the morale of the employees to be high to maintain the momentum.
The special thing is that this increase is more than the last financial year 2019-20. The company had increased salaries by 10 to 12 percent during that period. While this increase will be limited only to the employees of Reno India, Reno’s partners or subsidiaries will have no role in it. Significantly, Reno has a 30 percent stake in Nissan and the R&D organization Nissan Technology Business Center in India.
Experts say that Reno India has a great portfolio of affordable vehicles and that is its strength. After the cash crunch and loss of income, people will turn to cheap vehicles and will keep the Reno sedan, MPV, hatchback and SUV company priced at up to eight lakhs over the competitors in the coming years.