French carmaker Renault SA said that sales declined less sharply than earlier in the year. The company also reported that positive trends had carried over into the third quarter from the second quarter. Renault plans to raise production by more than 50% in the fourth quarter, compared with the same period last year, when it became necessary for carmakers to slash production in response to plummeting demand. The group confirmed its full-year target of generating positive free cash flow. Last February, Renault reduced its full-year operating margin goal it had in place before the financial downturn, when the entire auto industry’s sales slumped toward the end of last year.Sunday, November 1, 2009
Renault to increase production by more than 50% in the fourth quarter
French carmaker Renault SA said that sales declined less sharply than earlier in the year. The company also reported that positive trends had carried over into the third quarter from the second quarter. Renault plans to raise production by more than 50% in the fourth quarter, compared with the same period last year, when it became necessary for carmakers to slash production in response to plummeting demand. The group confirmed its full-year target of generating positive free cash flow. Last February, Renault reduced its full-year operating margin goal it had in place before the financial downturn, when the entire auto industry’s sales slumped toward the end of last year.
