The automobile group Renault - of which he is chairman - announced Thursday a revision in fall of its forecast of operating margin for 2008. It from now on would be included/understood in a fork between 2,5% and 3% against a forecast of 4,5% before. ( Finance Information City )
The manufacturer also repeated that its sales 2008 should be “slightly above” 2007. I doubt that the news Renault Koleos is capable “to ensure” this lightness, the fashion not being more with the 4x4.
“On the whole of the year 2008, volumes of sales of the group should be, at the end of 2008, slightly above the level of 2007 and Renault should post an operating margin ranging between 2,5 and 3%”, declare the manufacturer in an official statement. Unless new events do not come yet entâcher from the not very amusing results.
Renault stresses that the European automobile markets “were significantly degraded” on the third quarters and estimates that these markets “could drop by 8% in 2008 compared to 2007”. the French manufacturer itself will reduce by 20% his production to the fourth quarters in Europe, which corresponds to measurements of economies announced in July, announced Thursday Patrick Pelata, delegated general director of Renault.
This production decrease corresponds to the plan of economies “which was announced in July”, in particular the passage to a team of the factory of Sandouville (Seine-Maritime) and “much of not worked days”.
Patrick Pelata moreover indicated that it was not possible to provide precise projections for 2009 taking into account the current reversal of the automobile markets related to the crisis of the credit.
Projections of the group for the results for the period ended 2009 will thus be published at the time of the advertisement of the results for 2008, in it, February specified, adding that he hoped that the market would have been stabilized by then.
According to the leader, it is worrying to note signs of deceleration in the emergent countries, of the markets on which Renault hoped to compensate for the fold of the sales in Europe. It in particular quoted Russia and Argentina.
P.Pelata stressed that Renault tested difficulties of reducing stocks, which constitute an important expenditure. The latter increased because the manufacturer could not reduce the production as clearly as the request was not folded up. The full value of stocks of Renault reaches 6,5 billion euros thus, and the objective is to reduce it to 5,9 billion, even less, by the end of the year.
In July last - that is to say well ahead the financial crisis - cabinet J.D. Power Automotive Forecasting, announced right now that the sales of the European manufacturers should move back of 4% this year. “The costs flame and the request étiole quickly, that becomes very difficult for the manufacturers”, then declared one of its analysts, Jonathon Poskitt. Since the storm struck the banks, making the appropriations - and in particular the appropriations automobile - more difficult of granting.
To note in addition that the Renault group recorded a turnover in fall of 2,2% with the third quarters to 9,149 billion euros. Over the first nine months, the turnover is in rise from 0,9% to 30,091 billion euros.
The Renault title has evolved/moved from now on with low for 11 years with a course lower than 25 Euros. Its fall was accentuated this Thursday by the warnings of FIAT and Daimler (Mercedes), each one within the framework of their quarterly publication.
In front of the rapid deterioration of the European automobile markets, FIAT informed that its results could fall heavily in 2009. Daimler reduced by 7 to “more than 6 MdsE” its forecast of EBIT 2008 after a strong fall of its result to the third quarters.
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