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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Renault    RNO   FR0000131906

RENAULT

(RNO)
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Renault Executive Calls for Support for Auto Market

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06/12/2012 | 01:36pm EDT

CERGY, France--A senior executive of French car maker Renault SA (>> RENAULT) Tuesday called for government support for the flagging European and French auto markets, saying its weakness is "particularly worrying."

Some governments in Europe introduced schemes in late 2008 to prop up the market that fell precipitously due to the international financial crisis.

"What I really want is support for the European and French markets," Chief Operating Officer Carlos Tavares told journalists on a visit to one of the company's spare parts logistics centers.

Mr. Tavares noted that the European car market was down 6% over the first five months of this year, while the French market was down 16%. That is worse than the falls of 3% in European and 16% in France for 2012 that Renault was projecting earlier this year. Mr. Tavares said Renault is sticking to its full-year outlook for now, but may revise it when it announces its first-half results at the end of July.

Mr. Tavares wouldn't say whether Renault has been talking to the French government about eventual steps to underpin flagging demand. But he said that "any kind of measure, if it boosts demand, would be welcome."

Mr. Tavares added he sincerely hopes that the market will recover later this year.

Meanwhile, Renault Chief Executive Carlos Ghosn predicted that the next three or four years will be difficult for Europe.

The euro-zone's monetary union will stick together through the current turmoil, but the next three to four years will be difficult economically for the region, said Mr. Ghosn, who also heads Nissan Motor Co. Ltd.(7201.TO, NSANY).

Some of the weaker countries may be forced to drop out of the euro for a short time, but they will return, said Mr. Ghosn, speaking at a Viewpoints breakfast in New York City sponsored by The Wall Street Journal.

Write to David Pearson at david.pearson@dowjones.com

Stocks mentioned in the article : RENAULT
Stocks mentioned in the article
ChangeLast1st jan.
NISSAN MOTOR CO., LTD. 0.53% 416.1 End-of-day quote.-34.59%
PEUGEOT SA -1.54% 15.3 Real-time Quote.-28.17%
RENAULT -2.79% 24.58 Real-time Quote.-41.73%
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Financials
Sales 2020 43 817 M 51 791 M 51 791 M
Net income 2020 -7 300 M -8 628 M -8 628 M
Net Debt 2020 2 755 M 3 256 M 3 256 M
P/E ratio 2020 -0,92x
Yield 2020 0,38%
Capitalization 6 617 M 7 827 M 7 822 M
EV / Sales 2020 0,21x
EV / Sales 2021 0,16x
Nbr of Employees 179 565
Free-Float 62,0%
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Mean consensus HOLD
Number of Analysts 21
Average target price 27,51 €
Last Close Price 24,58 €
Spread / Highest target 270%
Spread / Average Target 11,9%
Spread / Lowest Target -59,4%
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NameTitle
Luca de Meo Chief Executive Officer
Jean-Dominique Senard Chairman
Clotilde Delbos Chief Financial Officer & Executive Vice President
Pascale Sourisse Independent Director
Benoît Ostertag Director
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