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Renault's Megane II nabs Car of Year 2003

PARIS, Nov 19 (Reuters) - Renault's mid-sized Megane II car, a key profit driver for the French company, has won Europe's Car of the Year award for 2003, the award's organisers said on Tuesday.

The Megane II, with its quirky sharp-angled rear roof line, was elected car of the year, beating 30 other new models, by a jury of 58 motoring journalists from 22 European countries who praised its design, as well as its ride and handling qualities, Renault said in a statement.

It is the fifth time Renault has bagged the award.

Renault is betting the love-it-or-hate-it Megane II, launched last month, and its six spin-offs will snatch a combined 14 percent of Europe's most important and crowded car segment -- midsized vehicles.

Shares in Renault have outperformed the European DJ Stoxx Autos index by 58.5 percent this year, partly driven by pledges the new Megane will boost market share and profits.