Renault, PSA Global Sales Drop in First Half

Renault SA has scrapped its 2012 sales outlook after worldwide vehicle volume slid 3% to 1.3 million units in the first six months of this year. Rival PSA Peugeot Citroen's global volume tumbled 13% to 1.6 million vehicles in the same period.

Renault says it no longer expects to boost volume 3%-4% in 2012 because declines in Europe will offset gains elsewhere.

The company's European sales dropped 15% to 708,100 vehicles in the January-June period, including a 15% decline to 310,300 units in France. Demand for Renault vehicles climbed 20% to 215,100 units in Latin America and surged 29% to 95,600 units in Brazil.

Renault is relying less on Europe, generating 47% of its sales outside the region in the first half of 2012 compared with 39% a year earlier. PSA derived 39% of its volume outside Europe, up only one percentage point year on year.

PSA's European sales fell 14% to 994,000 units in the first six months of this year, and it lost one point of market share in the region to 12.9%. Demand for its vehicles dropped 21% to 122,000 vehicles in Latin America but rose 8% to 209,200 units in China and 15% 41,000 units in Russia.