Renault says Q3 sales rise 4.5 percent

Renault third quarter sales increase 4.5 percent

French car maker Renault said on Wednesday its third quarter sales increased 4.5 percent compared with the same period last year.

However the turnover figures fell just short of analyst estimates as French and European revenues sank.

Sales in the third quarter were 9.342 billion euros, compared to analyst forecasts of between 9.4 billion and 10.4 billion compiled by Thomson Financial News.

Over nine months, Renault sales were 29.904 billion euros compared to 29.792 billion a year earlier.

In a statement, Renault said a new "product offensive" was now under way, and predicted growth in the fourth quarter, notably the final two months, driven by new versions of the Twingo compact car and the Laguna saloon.

The company still sees "slight" growth in full-year sales from 2006 and confirmed its target of a three percent operating margin.

Renault headquarters in Boulogne-Billancourt, near Paris. French car maker Renault said on Wednesday its third quarter sales increased 4.5 percent compared with the same period last year.

Source: [url=http://in.reuters.com/article/businessNews/idINIndia-30145820071024]Reuters India[/url]