Renault raising its market forecasts after H1 sales rise, report says

Article by Christian A., on August 29, 2010

For this year, Renault SA improved its outlook for the global and European car markets, attributing the boost of its first-half sales and market share to new product launches.

Renault also predicts that the European car market will drop between 7% and 9% this year, instead of its previous forecast of a 10% decrease.

The group also forecast an 8% climb in the world car market due to the growth in the emerging markets.

Carmakers that posted gains due to government scrapping incentive schemes worry about the second half of this year in mature markets, when most schemes have terminated.

To offset this, carmakers are turning their focus on regions such as China and Brazil. Renault also recorded a 21.6% increase in the first half for its global sales of passenger cars and light commercial vehicles, to 1,347,169 units.

This resulted to a market share of 3.9%, up by 0.2 point compared with the same period a year ago. Meanwhile, Renault's European sales went up by 21.6%, and the group had a 10.8% market share, an improvement of 1.8 points.

The group also believes that for the second half of the year, there would be a divergence between the European market and the other parts of the world.

Topics: renault, sales

If you liked the article, share on:

Comments

Recommended

One of the executives at Volkswagen tagged in the so-called Dieselgate scandal has pleaded not guilty to a list of allegations surrounding the carmaker’s actions to cheat emissions regulations in...
by - February 27, 2017
When the Crown De Luxe saloon was first released in 1972, it was at that time the most lavish Toyota model available to British customers. Both unusual and exclusive, one...
by - February 27, 2017
The ride-sharing fleet of sharing Lyft Inc. will soon include thousands of specially fitted self-driving Chevrolet Bolt electric vehicles, courtesy of General Motors. If plans push through, Lyft’s clients would...
by - February 27, 2017
J.D. Power has officially released the 2017 Vehicle Dependability Study, an annual list of the most dependable brands in the auto industry. Once again coming on top is Lexus, the...
by - February 26, 2017
Citroen revealed that its entry to the Chinese market is moving forward with the planned release of the new generation C5. While still on sale on this part of the...
by - February 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries