Renault's first-quarter sales slide
French carmaker Renault says sales in the first quarter of 2012 fell 8.6 per cent year-on-year to 9.54 billion euros ($12.23 billion) due to poor business in Europe.
Renault said in a statement that sales in its car division, the company's biggest unit, fell 9.6 per cent to 9.0 billion euros during the January-March period.
Vehicle sales worldwide fell by 7.9 per cent to 638,498 units, the company said, due to an especially poor performance in Europe where unit sales fell by 20 per cent, in an overall market down only 8.1 per cent.
Sales outside Europe however grew by 12.3 per cent, the company said.
Like its French rival PSA Peugeot Citroen, Renault was hit hard by the end of government cash-for-clunker schemes that saved the European car market after the financial crisis of 2008.