Renault: Global Auto Market to Top 100 Million by 2020

Renault SA expects worldwide vehicle sales to surpass 100 million units per year by 2020, COO Carlos Tavares tells reporters. Global demand reached 78 million units last year.

Tavares says the current downturn in Europe is "no reason to be desperate" about the future of car sales. He contends that the growth potential is large for automakers that adapt to geographic shifts in demand.

Tavares says Renault will achieve its goal of generating half its sales outside Europe this year four years ahead of schedule. The company reached that target in part because of strong sales overseas but also because its sales across Europe plunged 18% (to 893,700 vehicles) in in the first 10 months of 2012.