Renault May Miss 2012 Sales Goal

Renault SA cautions that it may fall short of its goal of selling more vehicles in 2012 than last year's record 2.72 million units.

The company's worldwide sales fell 6% year on year to 596,100 vehicles in the third quarter of 2012.

Automotive revenue dropped 14% to €7.9 billion in that period.

Renault sales in Europe tumbled 18% from a year earlier in the July-September period, including declines in France (-12%), Italy (-23%) and Spain (-19%).

Other regions accounted for 55% of the company's total global volume compared with 48% in last year's third quarter. The latest quarter marks the first time that Renault derived more than half its sales outside Europe. Demand jumped 20% in the Americas but fell 8% in Asia Pacific.

The company has lowered its full-year outlook for the European auto market to a 6%-7% drop, about twice the decline it originally forecast. Renault's best-case scenario for France this year would be a 13% contraction in volume compared with its earlier prediction of a 7%-8% deterioration.