Renault swings back strongly into profit as Q2 car sales rise sharply
PARIS - Renault SA says it returned to profit in the second quarter as higher car sales in all regions helped reverse massive losses a year earlier.
Europe's number three car maker reported net profit of €823 million (US$1.1 billion) for the three months to June, compared to a loss of €2.7 billion a year earlier and well above the €435 million that analysts had expected.
The maker of the Megane, Logan and Clio models confirmed its outlook for increased market share this year despite a 7 to 9 per cent forecast drop in its key European market.
