Renault SA predicts record sales in 2010 as government incentives drove demand for Renault's smaller models and its Dacia brand. Spokeswoman Caroline De Gezelle says that sales in 2010 will beat the the 2.5 million vehicles in sales posted in 2005. She adds that Renault also expects to record the industry's highest net income as a percentage of revenue.
Le Figaro, giving Renault an 8.7 percent margin, reports the carmaker expects EUR38 billion ($50.3 million) in revenue and net income of EUR3.3 billion in 2010, compared with a loss of 3 billion a year ago.
The magazine says Renault will sell 2.6 million vehicles in 2010, citing CEO Carlos Ghosn, but profits will come mainly from the sale of a stake in truckmaker Volvo and from partner Nissan Motor Co. The carmaker posted a EUR2 billion gain from the October 2010 sale of a 15 percent Volvo AB stake.
Le Figaro adds medium-term objectives to be announced next February include a 2013 operating-margin target between 4 percent and 5 percent. In September 2010, Ghosn said he intended to present new medium- term objectives with the company's full-year results on Feb. 10, 2010.
He added the plan would be split into a first period with quantitative targets and a second with more qualitative goals.