A combination of a worsened outlook for the European market in the fourth quarter, the deterioration of the used car market and a slowdown in Renault brand sales in Western Europe has prompted the French car maker to Renault to revise its group operating profit target of 4% set down to “more than 3%”, in order to take into account, it said in a statement.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
A medium-term plan, to be announced in February 2006, will focus on boosting profitability, while pursuing growth.
“It will include a policy to renew and broaden the product line in order to increase and better distribute the expected contribution of each vehicle to the company’s earnings,” Renault said.
