Renault to launch 2,500-euro car

  Renault is set to embark on a project to build an ultra-economic car costing just 2,500 euros (3,375 dollars,) a French business newspaper reported. According to an article set to appear in Wednesday's La Tribune, a team at Renault-Nissan will on January 1 start developing several low-price car models for emerging markets, though the vehicles could ultimately find their way into the European marketplace. The cheapest will cost only a third as much as the Dacia Logan, a small family car manufactured by Renault and its Romanian subsidiary Dacia. The project will be overseen by Gerard Detourbet, head of Renault's entry-level car division, La Tribune reported, citing internal sources. Renault confirmed to AFP that Detourbet would join a Renault-Nissan small-car team at the start of 2012. But the car maker did not comment on whether a 2,500-euro car would be the team's focus.