GENEVA -- French car maker Renault said on Tuesday it expected its operating margin to be at least four percent in 2004.
"We have said we are targeting four percent in the middle of our cycle when our model line-up is favorable, so we should do better than four percent in 2004 excluding any major crisis," Renault Chairman Louis Schweitzer told reporters at a car show.
He estimated sales of new Renault cars fell eight percent in February, giving the company a market share of 11 percent versus 11.6 percent a year ago.
Schweitzer confirmed he expects the European market in 2003 to fall between zero and two percent, or six to seven percent in a worst-case scenario. He gave no details.
He also confirmed the company aimed to sell four million cars in 2010.