Thursday, July 30, 2009

Hot News: Renault Posts Huge Loss


Renault has announced a net loss of 2.7 billion euros (£2.3bn) for the first half of 2009.
Renault CEO Carlos Ghosn said, “We anticipated the crisis from July 2008 and made the first decisions necessary to weather it. Today, Renault is showing resilience, as illustrated by our significantly positive free cashflow.
“We are already preparing Renault for the post-crisis period with the mass marketing of zero-emission vehicles from 2011, the expansion of the entry-level range, consolidation of our presence in emerging markets and a drive to accelerate and expand synergies with Nissan.”
Renault has recently launched a new Megane, Scenic and facelifted Clio, so it is expecting better results for the second half of the year. Renault’s group global market share remained at 3.7 per cent for the same period.

Thanks to: Autocar

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