If the issue is cars being status symbol being fancy but cheap won't help and won't make it desiderable nor a status symbol anymore than a dirt cheap rolex would
Did you read the article?! Renault's approach was to model the cheaper car after an existing car (Kwid) that was proven/already popular on the Indian market, and then they drove down component costs. They are relying on a market proven market segment (and the Kwid's halo effect won't harm).
