Renault drives out of last year's slump thanks to EU sales growth
July 30, 2014, 12:04 am TWN
PARIS -- French car giant Renault on Tuesday reported first-half net profits nearly 20 times better than during the slump of last year as European sales offset weaker growth in emerging markets.
Renault reported net profits of 749 million euros (US$1 billion) in the first six months of the year, compared to a meager 39 million euros it achieved in the first half of 2013 when its figures were hit by the ending of its business in Iran.
Chief Executive Carlos Ghosn said in a statement that his group's profits and registrations had improved in the first half “thanks to the success of ... recently launched models.”
“These results are in line with the full-year target,” added Ghosn.
Renault sold 1.36 million new cars in the six months to June, a gain of 4.7 percent compared to the outcome in same period last month.