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Renault chief Ghosn confirms group's 3 percent gross operating margin target for 2007

Renault chief Ghosn confirms group's 3 percent gross operating margin target for 2007

Renault SA chairman Carlos Ghosn told shareholders Wednesday he still expects a 3 percent gross operating margin for 2007, despite the French carmaker's continuing plunge in domestic registrations in April.
Renault posted an operating margin of 2.56 percent for 2006 and has set a target of achieving a 6 percent margin by 2009.
At the annual shareholders' meeting Wednesday, Ghosn also reiterated the company's hope that its recent weak sales trend would bottom out in the second half.
"We will enjoy a resumption of growth in the second half of 2007," Ghosn said.
The meeting coincided with the announcement Wednesday that Renault's new car sales in its key home market continued to slip. Registrations were down 14 percent in April compared with the same month a year earlier, the French automobile manufacturers association said.
Customers have been resisting Renault's aging model line. Renault is launching new models in the second half of the year and hopes sales will pick up as the new models hit the showroom.


Updated : 2021-07-27 05:00 GMT+08:00