Renault’s chief executive, Carlos Ghosn, has said that the next-generation Logan will be sold for less than $5000 in emerging markets around the world. Renault will be competing with the likes of Toyota, Tata, and Hyundai, all of which have stated their intentions to enter the ultra-low cost car market.

The target price for the new Logan will be in the region of €2,000-€4,000, but we’re expecting it to be on the higher end of that estimate. The low price will mean that some corners will invariably have to be cut, and Ghosn has acknowledged this by saying that the car will not be sold in all markets due to differing safety and regulation standards. Instead, Renault will concentrate on the big hitters like China and India.

He also refused to confirm how the car would be branded or whether Nissan would be helping out on the reliability side of the operation.