Renault on the ramps after margin warning

Mark Milner

Friday, 18 Nov 2005

# Automotive industry

Renault's chief executive, Carlos Ghosn, is facing his toughest challenge since stepping into the top job in May this year. Shares in the French car maker fell nearly 8% yesterday after it warned late on Wednesday that its operating margin this year would fall from over 4% to "more than 3%".

Renault's chief executive, Carlos Ghosn, is facing his toughest challenge since stepping into the top job in May this year. Shares in the French car maker fell nearly 8% yesterday after it warned late on Wednesday that its operating margin this year would fall from over 4% to "more than 3%".

Mr Ghosn was credited with turning around the Japanese car maker Nissan, in which Renault has a 44.4% stake; now he has to tackle fierce competition in Europe.

Renault's market share fell below 10% last month despite the September launch of the new Clio, voted European car of the year.

Contributor

Mark Milner

Mark Milner is the Guardian's industrial editor.

Mark Milner

Friday, 18 Nov 2005

The GuardianTramp

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