Renault announces 2010 finance figures

The French manufacturer has seen an upturn in fortunes in recent months and sales in the UK in June 2010 improved by more than any other manufacturer.

The latest figures from Renault for the first half of 2010 show global sales grew 21.7 per cent, buoyed by the completion of the six-strong Megane range, special 20th anniversary edition Clio models and a number of exciting concept cars such as the new DeZir electric coupe.

Renault President and CEO Carlos Ghosn, said, "The actions we have undertaken are paying off. All Group brands and Regions increased market share."

The ‘actions’ could refer to recent work with Nissan to create hybrid and electric technology for a range of four electric vehicles. The Kangoo Z.E. electric van and Fluence Z.E. all-electric saloon are currently touring Europe prior to a 2012 release, while two more, smaller electric vehicles will be introduced in 2013-2014.

In the first half of 2010, the Renault Group received nearly £20m (£16.5m) in revenue – 23 per cent more than the same period last year. The success has been attributed to a greater market share for Renault in global markets.

Ghosn added: "We also controlled our costs, benefiting from synergies within the Alliance. In an uncertain environment in the second half of 2010, the Group will continue to focus on its key target of generating positive free cash flow for the full year."

The European market is expected to decline by as much as nine per cent in the second half of 2010, but Renault is confident it can increase its market share because the global market is expected to grow by eight per cent.