News Archive
Renault Targets New Markets
February 22, 2012
Renault, the French car manufacturer, has seen a 9% increase in annual sales, thanks to growing demand from motor markets outside of Europe.
Renault have said that they have experienced major sales growth to Brazilian and Russian car insurance holders outside of Europe.
The company have estimated that the global car market will grow by around 4% over 2012, however it's believed that this growth will come from outside of the European market that is predicted to shrink by 3 – 4%. As a result the company is looking to target Brazilian, Russian and Indian motor markets
Renault have reported that they sold 2.72 million cars over 2011, resulting in 42.63 billion (£35.5 billion) of revenue. In spite of this the company's net profit fell by almost 40%.
Carlos Ghosn, Renault Chairman, stated that Renault coped with a number of crises over the course of 2011 and still exceeded the free cash flow objective for the year.
Mr Ghosn added:
"In 2012 we expect international sales to be well in excess of 43% of the total, while maintaining the Renault brand leadership in France, and number two position in Europe."
Source: http://www.bbc.co.uk/news/business-17054823