Renault expects to increase market share in Europe
17 May 2001: Renault expects to increase market share in Europe this year, while the entire market will decline by about 2 percent due to persistent weakness in sales in Germany.The company feels its new Laguna II model (right)will help it to take market share from rivals such as Volkswagen.
Renault Chief Executive Louis Schweitzer told shareholders last week that sales and profits have been slowing this year. Demand for the company's cars and light trucks in Western Europe fell 8 percent in the first quarter, but it hopes to concentrate on a range of more profitable larger cars, including the Avantime luxury 'coupe' in September and the Vel Satis (left) large saloon next year.The Megane and Megane Scenic MPV are Renault's most popular models, but aren't due for renewal until 2003 and until then sales are expected to slow against newer competition.