Skip navigation
Newswire

Renault says Megane to match predecessor's return

PARIS, Sept 24 (Reuters) - French carmaker Renault's new mid-sized Megane car will notch up at least the same return on investment as its popular predecessor, the firm's Chairman Louis Schweitzer said in an interview released on Wednesday.

"The new Megane will have a return on investment that is equal or above its predecessor," Schweitzer said in an interview to be published in French newspaper Les Echos on Thursday.

Since it launched the new saloon version of the model, which sports a cutaway back end, last year,

Renault has sold 230,000 of the new saloon version of the car, which sports a cutaway back end, since its launch last year and 37,000 of the Scenic minivan version of the model since it hit showrooms in June, Schweitzer said.

He reiterated that Europe's fourth biggest carmaker aims to match or beat last year's market share in Europe thanks to the quirky Megane and its profit-driving Scenic spin-off.

Schweitzer stressed that Renault did not risk becoming a takeover target after the French government cut its stake in the firm to 15 percent, since the state had no plans to cut its holding further.