Renault sales soar, sees continued improvement

8th July 2010, Comments 0 comments

French auto giant Renault reported Thursday a surge in worldwide sales in the first half and predicted a strong showing for the global auto sector this year.

Renault group sales shot up 21.6 percent in the January-June period to 1.35 million vehicles, news that sent the company's share price up 1.4 percent in mid-day trading on an overall stronger Paris market.

Renault said the global market grew 16 percent in the period, of which Reanult's share was 3.9 percent, a gain of 0.2 percentage points.

"Our goal for 2010 remains an increase in market share for all our marques in all regions," said Renault deputy director for commercial and utility vehicles Jerome Stroll.

Renault's principal French rival, PSA Peugeot Citroen, announced a 16.9 percent first half sales gain to 1.86 million vehicles on Wednesday.

Renault predicted an increase of "around 8.0 percent" for the global auto market this year, despite an expected 7.0-9.0 percent drop in Europe. It previously expected a global gain of just 3.0 percent and Europe to fall 10 percent.

The company said the second half of the year should show a "divergence" between Europe, where sales should continue to suffer from an end to car scrapping schems, and the rest of the world.

"Outside of Europe, we are continuing our offensive to strengthen our presence in emerging market countries which are the link with growth in the years to come," Stroll said.

© 2010 AFP

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