Renault Q1 sales up 4.2 per cent

PARIS: French car maker Renault said on Monday its first quarter 2008 sales rose 4.2 percent to 10.2 billion euros (16.17 billion dollars), saying it remained on course to meet its targets for this year.

Renault, which controls Japan's Nissan Motor, said it had restated its 2007 figures to make them comparable, with the first three months of last year seeing sales of 9.79 billion euros instead of the originally given 10.26 billion euros.

"Against a backdrop of economic and financial strains for the world economy as a whole over the last nine months, Renault remains on course to meet the targets set at the beginning of the year," it said.

In January, the automaker said it was aiming to increase sales 10 percent this year and have an operating profit margin of 4.5 percent.

According to previously given figures for 2007, the company had an operating margin, a broad measure of profit, of 3.3 percent last year.