New Renault strategy targets 5% margin: report

25th January 2011, Comments 0 comments

Shares in French automaker Renault jumped more than two percent on Tuesday following unconfirmed reports the company's new strategy will target an operating margin of five percent.

In addition to the operating margin, the company's new strategic plan to be unveiled next month envisages further synergies between its brands (Renault, Dacia, Samsung Motors) plus its Japanese partner Nissan, business radio station BFM reported without specifying its source.

Renault declined to comment on the report when contacted by AFP.

The company's shares leapt up more than two percent in morning trading to 48.42 percent at 0955 GMT in a stable market.

CEO Carlos Ghosn has already indicated that Renault will intensify its efforts in developing electric and other low-pollution vehicles, as well as accelerate development in regions such as Brazil, Russia and the Middle East.

© 2011 AFP

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