Friday, February 17, 2012

Summary Box: Renault earnings down (AP)

BIG DIFFERENCE: Renault SA 2011 earnings fell compared to a year earlier when the French car maker booked an euro2 billion ($2.62 billion) gain on the sale of part of its stake in Sweden's Volvo AB. Net profit was euro2.1 billion, down from euro3.4 billion.

RECEDING SALES: Renault expects its core French car market to shrink by up to 8 percent this year, while the overall European car market will decline by 3 to 4 percent.

LOOKING BACK: Last year Renault sold over 2.72 million cars globally. Gains came mainly outside Europe, notably in Russia, Turkey and Latin America.

Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http%3A//news.yahoo.com/s/ap/20120216/ap_on_bi_ge/eu_france_earns_renault_summary_box

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