8 between the first and the second quarter of 2009

Renault has long lived on the good results of its subsidiaries, Nissan and AB Volvo, but with the crisis, the system has indeed turned against him: the automobile Group yesterday announced a massive net loss of EUR 2.71 billion in respect of the first half which largely clears the benefit of 1.58 billion accruing a year more soon. This record hole explained 1.58 billion by foreign manufacturers with Renault: Nissan represents the period 1.22 billion for the French group, coupled with AB Volvo (196 million) and the last member of the club, the Russian AvtoVAZ (182 million). For the rest, i.e. its own activity, Renault yesterday presented enough neighbouring results from those of PSA the eve: an operational negative margin "only" 620 million (before impairment of assets), against a profit of 865 million a year earlier, a turnover by 23.7 to 15.99 billion fall, and a free cash flow again positive ($ 848 million) through a policy of reduction of stocks of carsamplified with the "crisis plan" last February.

Far from being terrified by the magnitude of the losses, which had been anticipated for some time, Renault staff is paradoxically now a speech offensive, based on the conquest of market share.

Success of case-sensitive premiums

"Renault is stabilized in the crisis, and resists," argued Patrick Pélata, Director-General delegate, which is however make no commitment to operating margin for 2009 and still less on 2010. The success of the premiums to the case in several countries in Europe, Turkey, Slovenia and Romania plants turn today for full and, at the global level, the manufacturer provides even to produce more cars in the second half of 2009 than in the same period of last year! Is there not a risk of overheating, the time where all the manufacturers ensure on their stocks as the milk on the fire "It would not our factories if it did not order, replies the right arm of Carlos Ghosn.". Our current portfolio of orders is considerable, it is not far from two months of production, we are even increase over 2007. "At the time, the group to the three brands (Renault, Dacia and Samsung) table on a gain of market by the end of the year (in Europe, it is already increased from 7.1 to 8.8 between the first and the second quarter of 2009). The global automobile market is considered to be a little less bad than previously: could represent this year 57 million units, or a lower annual 12 and non-more than 15 as shown previously. Ditto for European sales, which declined by 8 in 2009 instead of the 11 decline expected initially.

The reduction of fixed costs, which reached 15 in the first half, is still in the program. Over the past year, Renault is separated from 6,400 employees. Payroll decreased by approximately 20 compared to 2007, as its R & D expenditures. The group put in cartons the alternate space, as well as a sports vehicle which would have sounded the return of the Alpine brand, confirmed Patrick Pélata. As the successor of the Laguna sedan, in a few years, it could have a strong lineage Korean (Samsung already produces models SM3 and SM5, which should be distributed one day in Europe).