Renault Profit Surges 38% as SUVs Grab European Market Share
- French automaker targets 37 percent gain in revenue by 2022
- Renault will present new strategic plan in October, CFO says
Renault CEO Carlos Ghosn Sees Another Record Year in 2017
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Renault SA’s profit surged 38 percent in 2016 after the French carmaker gained market share in Europe with an expanded lineup of sport utility vehicles and upgraded models like the Megane hatchback.
Operating profit increased to 3.28 billion euros ($3.5 billion) from 2.38 billion euros a year earlier, the Boulogne-Billancourt-based company said in a statement. The figure exceeded the 3.05 billion-euro average of 16 analyst estimates compiled by Bloomberg. Revenue jumped 13 percent to 51.2 billion euros. The shares rose the most in seven months.