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Old 3rd June 2004, 01:36   #1
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PARIS, May 4 (Reuters) - French carmaker Renault (Paris:RENA.PA - News) hopes sales of its "5,000 euro" car for new markets will match those of its hit Megane model -- Europe's most popular car -- by 2010, the company's chairman said on Tuesday.
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Chairman Louis Schweitzer also told reporters he expected to make an operating profit margin of around five percent on the cut-price X90 model, which will be sold in eastern Europe, Russia, Morocco, Iran, Latin America and possibly China.

That would make it as profitable as the average Renault car sold in western Europe, where tough competition and lacklustre demand keeps margins tight, Schweitzer said.

"There is great potential for growth," Schweitzer told the association of French financial journalists. "By 2010 we hope to sell as many X90 cars annually as we sold of the Megane last year, when it was Europe's most popular car... around 700,000."

Schweitzer also reiterated that he was "very confident" Europe's fourth biggest carmaker would hit its goal of lifting 2004 operating margin to 4.5 percent from 3.7 percent last year, despite pressure from raw material prices.

"Yes, raw material prices will weigh on Renault's margins but they will not threaten our targets for the year," he said.

He also stuck with Renault's forecast for one percent growth for the western European market this year, noting that provisional figures for April showed recovery in demand would persist, even if economic powerhouses France and Germany remained weak.

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Old 3rd June 2004, 01:59   #2
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Quote:
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Quote[/b] ]By 2010 we hope to sell as many X90 cars annually as we sold of the Megane last year, when it was Europe's most popular car... around 700,000."
Sounds reasonable numbers to me. Infact a little too conservative. With China growing at 100% over the last two years in terms of sales, i dont doubt if they sell half of that alone in China by 2010. Iran has the Khodro, an erstwhile Renault. And this as a replacement in the growing Iranian market bodes well. Infact Iran is looking at opening up its market even further, one of the reasons why Tata is so keen on Iran.

I think rather than the constipated water buffalo... oops Kangoo, this is what Renault should actually consider for an India launch. Makes economic sense.

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Old 3rd June 2004, 02:22   #3
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Definately worth good business in India!!
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Old 3rd June 2004, 10:59   #4
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Better than the old Dacia cars like the Duster!
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Old 3rd June 2004, 11:23   #5
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Quote[/b] (Revvmaster @ June 03 2004,00:29)]I think rather than the constipated water buffalo... oops Kangoo, this is what Renault should actually consider for an India launch. Makes economic sense.
would you beleive that Peter Stevens - designer of the Lotus Elan and McLaran drives one and likes IT !!!!
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Old 3rd June 2004, 13:21   #6
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this car would be the perfect little contender for the likes of Indigo and the Ikon and the Esteem. and if Peter Stevens likes it, i have a feeling im going to like it too. wouldn't have any problem picking up one of these over the Indigo.
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Old 3rd June 2004, 15:11   #7
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Quote[/b] (ported_head @ June 03 2004,11:51)]Peter Stevens likes it, i have a feeling im going to like it too. wouldn't have any problem picking up one of these over the Indigo.
I meant the Kangoo !!!!!!!!!!!
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Old 3rd June 2004, 15:31   #8
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Quote:
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Quote[/b] (ajmat @ June 03 2004,13:41)]
Quote:
Originally Posted by [b
Quote[/b] (ported_head @ June 03 2004,11:51)]Peter Stevens likes it, i have a feeling im going to like it too. wouldn't have any problem picking up one of these over the Indigo.
I meant the Kangoo !!!!!!!!!!!
Well.. the Kangoo aint that bad...its used by most of the commercial transporters in France!
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