A report in Les Echos newspaper suggests that Renault may have to cut its 2009 financial targets due to weaker than expected demand.
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“It appears more and more likely that management in the next few weeks will adjust its Contract 2009 plan, announced with great fanfare on February 9, 2006 by Carlos Ghosn,” the paper said, citing “internal sources.”
Ghosn on Saturday voiced concern about what he said was “a direct correlation between auto sales and the consumer confidence index in France,” adding that conditions on the French market were likely to be “difficult” in the near term.
Les Echos reported Monday that questions were being raised at Renault on two targets outlined in Contract 2009 — an operating margin of 6.0 percent of sales next year and an increase in worldwide vehicle sales of 800,000 units compared with 2005.
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