Renault Reports Record Profits

Renault, the French auto company, reported very high profit and sales for 2017. This supports CE Carlos Ghosn’s posit that new government demands will only strengthen the alliance with partner Nissan.

Renault saw 17.4 percent surge in profit–their highest ever at $4.84 billion, a 6.6% revenue. That is up by almost 15%. These results blew analysts expectations out of the water when it comes to Renault’s operating profits.This does not include the recent consolidation with AvtoVAZ in Russia. Manufacturing costs savings increased 663 million euros.

Renault aims to maintain this operating margin of 6% or higher in 2018–despite currency changes that could damage them. This strong showing financially may help Ghosn from a closer relationship with Nissan based on pressure from the French government.