Renault sales up, raises forecasts

27th October 2010, Comments 0 comments

French auto giant Renault said Wednesday its third quarter sales rose 7.6 percent to 8.7 billion euros (12.1 billion dollars), buoyed by strong international markets.

The company said it was more confident on the outlook, allowing it to confirm its 2010 earnings forecast.

Strong overseas sales supported the figures, Renault said in a statement, adding that it continued to win customers in 12 of its 15 main markets.

In Europe, sales fell four percent in a market which overall was down 11.5 percent, while international sales jumped 22.8 percent to account for 42 percent of all group sales.

Renault raised its global market growth forecast to nine percent from the previous eight percent, while Europe would shrink by five percent, instead of by the seven percent it estimated earlier.

Renault total vehicle sales this year should be more than 2.5 million, it said.

Renault returned to the black in the first half of the year with a net profit of 780 million euros, reversing a year-earlier loss of 2.73 billion euros.

© 2010 AFP

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