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

Article by Christian A., 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]

If you liked the article, share on:

Comments

Recommended

Earlier in November at the 2017 SEMA Show in Vegas is when Hennessey unwrapped the Venom F5 to all of us. But it was actually first introduced as a concept...
by - November 22, 2017
Mercedes-Benz just made an announcement that the 2018 E Class Cabriolet has finally landed in the United States. If you had not known, the E Class will be positioned in...
by - November 22, 2017
After a somewhat successful fray into the automotive market in China, the resurrected German automobile brand Borgward is finally heading to Europe, bringing along with it the Borgward BX7 sports...
by - November 22, 2017
Automotive industry veteran Bob Lutz has once again spoken out against Tesla. Known as one of Tesla Motors’ greatest skeptics, Lutz had stated two years ago that the Silicon Valley...
by - November 22, 2017
Dubai is one of the few countries where expensive cars are the norm, many of which are specially modified as well. And this just in: Bentley has debuted the new...
by - November 21, 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