Renault aims to sell 3 million cars by 2013 -

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Renault aims to sell 3 million cars by 2013,[link widoczny dla zalogowanych]
The French automaker Renault,[link widoczny dla zalogowanych], eager to improve its profitability, announced on Thursday it has set a target of selling 3 million cars by 2013.Presenting its new five-year strategy,[link widoczny dla zalogowanych], the second largest automaker in France planned to debut 48 models in late 2016 for all its brands, including Renault, Dacia and Renault-Samsung, eight more than in 2010.
Four electric car models -- Fluence ZE, Kangoo, Twizy and Zoe -- on which Renault has spent enormous cash and human resources in development, will hit the market by 2012. The company also set a goal of selling 100,000 electric cars by 2013.Renault's 2010 sales result reached 2.6 million units, of which between 28 percent and 30 percent were low-price products. The group's CEO,[link widoczny dla zalogowanych], Carlos Ghosn, said that the increase outlook of 0.4 million units by 2013 will be mainly achieved in markets beyond Europe.
"There will be many innovations," Ghosn said with respect to the new plan, which aims to adjust the company's network by concentrating productions of high-end and more expensive cars in western Europe.Unlike its domestic rival,[link widoczny dla zalogowanych], PSA Peugeot, which started cooperation with Chinese counterparts years ago, Renault's focus on emerging economies is still in Brazil, Russia and India, with no entity in China.
According to Ghosn, the new five-year vision to 2016 was comparatively conservative, because he wanted to ensure its success. Renault's last five-year plan was frustrated due to the impact of the global financial crisis.Renault realized a revenue of 38.97 billion euros (53.03 billion U.S. dollars) in 2010, up 15.6 percent compared to the 2009 result. With a net profit standing at 3.42 billion euros (4. 65 billion dollars), the group managed to return to profit on governmental fiscal stimulus after a loss of 3.13 billion euros (4. 26 billion dollars) in 2009.
U.S. faces daunting economic, budgetary challenges: CBO chief
Although the U.S. economy has struggled to recover from the recent recession,[link widoczny dla zalogowanych], the nation still faces daunting economic and budgetary challenges, Douglas Elmendorf, director of the Congressional Budget Office (CBO), said here on Thursday.During this round of recovery, the pace of growth in the nation 's output has been "anemic compared with that during most other recoveries" since World War II, and the unemployment rate has remained quite high,[link widoczny dla zalogowanych], Elmendorf said in a testimony before the Committee on the Budget of the U.S. House of Representatives.
"For the federal government,[link widoczny dla zalogowanych], the sharply lower revenues and elevated spending deriving from the financial turmoil and severe drop in economic activity, combined with the costs of various policies implemented in response to those conditions and an imbalance between revenues and spending that predated the recession, have caused budget deficits to surge in the past two years," said the chief of the nonpartisan CBO.
The United States reported a nearly 1.3 trillion U.S. dollars federal budget deficit in the 2010 fiscal year ending on Sept. 30,[link widoczny dla zalogowanych], 2010. It is improving from the 1.42 trillion dollars budget gap in the 2009 fiscal year, but the deficit is nearly three times as large as the 2008 fiscal year level.Elmendorf reiterated the CBO's forecast that for the 2011 fiscal year, if current laws remain unchanged,[link widoczny dla zalogowanych], the federal budget deficit will rise to an even alarming figure of nearly 1.5 trillion dollars, or 9.8 percent of the nation's gross domestic product (GDP).
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