Renault CEO Carlos Ghosn a “very great uncertainty” for the year 2012

Article by Christian Andrei, on October 19, 2011

Carlos Ghosn, chief executive officer of Renault SA, stated that he sensed a "very great uncertainty" for next year amid a sluggish global economy and financial-market volatility. Although he added that there might be some reasons for positive outlook in 2012 if Europe can solve its sovereign debt crisis, he pointed out that countries were not in agreement on the necessary actions to take.

Ghosn, who is also Nissan Motor Co.'s CEO, shared that customers at this time are still "skeptical, but they haven't yet turned defensive."

But, for the year 2011, Renault has not changed its sales estimates, he stated, adding that they have already their order book full. Renault anticipates 2011 revenues and sales to be greater than in 2010, the year when it delivered 2.6 million vehicles and posted sales of 39 billion euros or $53.8 billion.

The company is also aiming for an automotive operating free cash flow of more than 500 million euros this year. Renault vehicle sales increased 1.5 percent to 110,198 units in September, as revealed by the European Automobile Manufacturers Association on Tuesday.

All in all, European registrations rose 1.1 percent to 1.27 million automobiles from 1.26 million units in the same period last year, the ACEA further stated. However, nine-month sales dropped 0.8 percent to 10.5 million registrations. [source: Autonews]

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