Summary Box: Renault earnings down

AP News
|
Posted: Feb 16, 2012 1:25 PM
Summary Box: Renault earnings down

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.