January 18, 2019 / 8:04 AM / 3 months ago

Renault targets 2019 sales growth after a 3.2 percent gain in 2018

PARIS, Jan 18 (Reuters) - French carmaker Renault posted a 3.2 percent increase in 2018 vehicle sales, boosted by a new Chinese joint venture, and pledged further “slight growth” this year amid rebounding demand in Russia and Latin America.

Renault’s sales rose to a record 3.88 million vehicles last year, including some 166,000 sold through its new partnership with China’s Brilliance. Excluding the joint venture, however, global sales fell 1.2 percent.

While the organic sales decline reflected setbacks in Turkey, Iran, China and India, Renault outperformed a weak market at home in Europe, with a 0.5 percent sales gain.

The company said it expects automotive markets to be “stable” in Europe and globally this year, with Russia growing 3 percent and Brazil expanding 10 percent. (Reporting by Laurence Frost; Editing by Inti Landauro)

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