Renault SA Chief Executive Carlos Ghosn on Tuesday painted a gloomy outlook for car makers in Europe this year. Automobile sales in the region could decline between 2% and 3%, while France, Renault’s home market, faces a between 5% and 6% drop in sales, Mr. Ghosn said.
Renault SA (RNO), France’s second-largest carmaker, reported a first-half profit that beat analyst expectations because of sales growth outside Europe, even as supply snags and rising raw-material costs hurt earnings.
French automotive group Renault SA (RNO.FR) said Tuesday it anticipates some disruption to its production in the summer due to supply-chain bottlenecks stemming from the Japanese disasters in March, but reaffirmed its earnings guidance for 2011 due to more robust sales than it expected in the first three months of the year.
04/20/2011
— Filed under: Business
Tags: production, Renault
