French carmaker Renault hiked its outlook for the global and European car markets this year and said on Thursday new product launches boosted its own first half unit sales and market share.The carmaker said it saw the European car market falling between 7 and 9 percent this year, compared with a previous forecast of a 10 percent dip. The group predicted an 8 percent increase in the world car market, led by emerging market growth."In Europe, the market is expected to continue the fall that began in April with the end of the scrappage bonuses and the reinforcement of austerity plans in several countries," Renault said in a statement."Countries outside Europe are expected to continue growing, the main reason being more favourable economic fundamentals," the statement said.By 1107 GMT Renault shares rose 2 percent to 32.08 euros, compared with a 0.2 percent rise in the STOXX Europe 600 autos index.Renault said its global sales of passenger cars and light utility vehicles rose 21.6 percent in the first half to 1,347,169 units, giving it a market share of 3.9 percent, a 0.2 point increase on the same period a year earlier.The group said its market share increased in 12 of its 15 main markets, though its market share fell in Germany, Europe's largest car market.SALES RISEWithin the group, the Renault brand scored a 19.9 percent increase in sales, while its Romania-based low-cost Dacia brand rose 18.2 percent and Korea-based Renault Samsung Motors was up 61 percent.In the first half, Renault launched its Megane Coupe-Cabriolet and Fluence models, as well as its new Master van, while Dacia launched the Duster entry-level 4X4 and Renault Samsung Motors launched the new SM5.Renault group's European sales rose 21.6 percent and the group had a 10.8 percent market share, an improvement of 1.8 points.The group said there would be a divergence between the European market and the rest of the world in the second half of the year.Renault is part of an alliance with Japanese carmaker Nissan and owns a 25 percent stake in Russian Lada-maker AvtoVAZ. It recently signed a strategic cooperation agreement with Germany's Daimler.French rival carmaker PSA Peugeot Citroen, Europe's second-largest carmaker, on Wednesday posted a 16.9 percent rise in first-half sales, helped by new models such as the DS3, C3 Picasso and RCZ coupe and strong growth in China.Separately Renault said it had signed a memorandum of understanding for the development of a new car with India's Bajaj Auto Ltd.(Editing by Marcel Michelson and David Holmes)News posted by www.newsinfoline.com
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