19 Jan 2013

Renault sales down 6.3% in 2012

9:30 pm on 19 January 2013

French auto group Renault recorded a fall of 6.3% in its global sales last year.

AAP reports 2.55 million vehicles were sold after sales in Europe collapsed by 18%.

The European Automobile Manufacturers Association announced earlier this week that new car registrations in the European Union declined by 8.2% in 2012 to their lowest level since 1995.

Renault intends to cut 7500 jobs in France by 2016. However it says most of those will come from natural attrition and the rest hopefully from the broadening of an early retirement programme. No factories are targeted for closure.

Plans to close a plant outside Paris have hurt the company, which was forced to seek government help to keep its financing arm afloat. The French government owns 15% of Renault.