Renault Group has recorded losses of 2.7 billion euros

Renault Group has reported a massive loss of 2.71 billion euros in the first half of the year, while sales fell by 24% in less than 16 billion, but the company remains optimistic and keeps its financial targets for the current year.

Renault Group has reported the first six months net loss of 2.71 billion euros, after a similar period in 2008 had profits of 1.58 billion euros. Sales also fell by 24%, to 15.99 billion euros.

Renault says that the first quarter was weaker than the second, and are signs that the market will recover at least partially towards the end of the year. Thus, in the first three months sales have decreased by 31% and, following 17%, so that there is a possibility that at least some segments of the market to recover until the end.

In any case, losses in the first half is not due only company Renault but also associated, such as Nissan, which lost 1.22 billion euros.

Source: http://www.renault.com/

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