Renault Spain president Juan Antonio Fernandez de Sevilla expects Spain’s car industry to perform strongly this year, despite the mortgage crisis and rising interest rates.
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Speaking to reporters in Valladolid, De Sevilla said Spain’s new CO2-based car tax is expected to fuel sales this year and that the market should meet its target of a 2% sales increase, unless things deteriorate significantly in the first quarter.
The auto industry is mixed about this year’s outlook, with some trade groups saying sales could rise 2% and others forecasting a 2.5%-3% decline.
De Sevilla said 2007 was a good year for Renault, which met its revenue and manufacturing targets in Spain.
He was also optimistic about 2008, saying that the French brand should continue to lead the Spanish market where its Megane model has topped sales for years.
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By GlobalDataThe Palencia factory will gain a third shift this year from the launch of new Megane versions, De Sevilla added. The site makes several variants for global sale.
The Valladolid factory should also perform as expected but production could rise depending on global sales of the updated Modus super mini. The factory makes the short and new long versions of the Modus as well as the Clio.
De Sevilla added that the Valladolid engines plant should surpass last year’s 1.2m-unit output due to strong demand from other Renault factories.
Ivan Castano
