France's Renault SA on Thursday cut its full year profit targets and said sales fell 2.2 percent in the third quarter as the financial crisis caused a steep decline in European demand for cars.
In the third quarter, sales dropped 2.2 percent to euro9.15 billion (US$11.75 billion) from euro9.36 billion a year earlier, Renault said in a statement.
The carmaker said a "sharp fall in European markets in the second half-year" caused it to cut profit expectations. It now expects an operating margin of between 2.5 and 3 percent compared with its previous target of 4.5 percent.
Total sales for 2008 will "slightly exceed" the 2.49 …
No comments:
Post a Comment