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Renault Nissan remains the cash cow

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Renault Nissan remains the cash cow



Nissan's contribution has been calculated on the basis of a price of 121.9 yen per euro on average over the quarter.

AFP / TOSHIFUMI KITAMURA



Good news for Renault's finances. Nissan Motor is expected to contribute up to EUR 433 million to net income for the first half of the French automaker's largest shareholder.

This contribution is equivalent to the profit from Nissan in Japanese accounting standards under the 4th quarter of its 2012/2013 financial year (period 1 January to 31 March 2013), Renault says in a statement. Nissan's contribution has been calculated on the basis of a price of 121.9 yen per euro on average over the quarter. Knowing that the Renault Group holds 43% of the Japanese capital.

Group registrations recede

This financial contribution is in any case well in the second French car manufacturer saw sales fall by 11.8% in Q1 to 8.3 billion euros. The reason: "the most difficult European context than expected" highlights a statement. "Nevertheless, thanks to the success of new products, the Group strengthened its position in its key markets and continues to grow internationally," he added.

In the first quarter, Group registrations (Renault, Dacia and Samsung Motors) were down 4.7% to 608,455 units in a global market that grew by 0.7%. However, the group emphasizes that continues to grow outside Europe.

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