Feb 10, 2017
French carmaker Renault reports record revenues
Revenues rose 13.1% to 51.2bn euros last year, slightly ahead of expectations, while net income jumped by nearly 20% to 3.54bn euros. Earlier this week, Renault said it had sold 3.2 million vehicles last year, a 13.4% rise on 2015, with market share rising in all regions. Renault's financial director Clotilde Delbos said 2016 had been "a very good year" for the carmaker, and the company had hit all of its targets. Renault said it expected the global car market to grow by between 1.5% and 2% next year, with sales in Europe and France up 2%. It forecasts the markets in Brazil and Russia will be "Stable", but expects 5% growth in China and the Indian market to expand by 8%. Last month, French authorities said they would investigate Renault over suspected "Cheating" in diesel emissions tests. The move comes in response to concerns raised last year by the French consumer protection agency, which carried out an investigation into several carmakers in the wake of the Volkswagen scandal.
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