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Renault quarterly sales tumble on weak Europe

By Gilles Guillaume PARIS (Reuters) - French carmaker Renault <RENA.PA> reported an 11.8 percent drop in first-quarter revenue on Wednesday and predicted the European market would contract 5 percent this year, a downward revision of its previous forecast. Revenue for the first three months dropped to 8.27 billion euros (7 billion pounds) on a 4.7 percent fall in global deliveries to 608,455 vehicles, the company said in an emailed statement.

Renault sales slide in first quarter

French automaker Renault on Wednesday said sales in the first quarter of 2013 fell 11.6 percent year-on-year to 8.27 billion euros ($10.7 billion) but maintained its outlook for the year. Vehicle sales worldwide fell by 4.7 percent to 608,455 units, the company said, due to a poor performance in Europe where unit sales fell by 11.6 percent, worse than the overall market which was down 10 percent. Renault added it believes the French and European markets will both contract by 5 percent this year, despite the global market expanding a projected 3 percent

Formula One: Malaysian Grand Prix qualifying - 2nd update

Qualifying results from the Malaysian Grand Prix on Saturday (Q - qualified): Q3 1. Sebastian Vettel (GER) Red Bull-Renault 1:49.674, 2. Felipe Massa (BRA) Ferrari 1:50.587, 3. Fernando Alonso (ESP) Ferrari 1:50.727, 4. Lewis Hamilton (GBR) Mercedes 1:51.699, 5. Mark Webber (AUS) Red Bull-Renault 1:52.244, 6. Nico Rosberg (GER) Mercedes 1:52.519, 7. Kimi Raikkonen (FIN) Lotus-Renault 1:52.970, 8. Jenson Button (GBR) McLaren-Mercedes 1:53.175, 9. Adrian Sutil (GER) Force India-Mercedes 1:53.439, 10. Sergio Perez (MEX) McLaren-Mercedes 1:54.136 Q2

Renault signs job-cuts deal with unions

French automaker Renault signed a deal with unions on Wednesday to cut 7,500 jobs and increase working hours in exchange for a pledge to avoid factory closures. After signing the deal with three unions -- Force Ouvriere, CFE-CGC and CFDT -- Renault CEO Carlos Ghosn called it a "historic" step in French labour relations. "This is a balanced agreement.... It gives Renault the means to renew its competitiveness in France," Ghosn said.

Renault nears wage deal with workers to avoid job cuts

Renault moved closer to securing the agreement of workers to a wage freeze needed to avoid factory closures and forced job cuts in France after a top union endorsed the deal on Friday. The approval from the CFE-CGC union that represents nearly 30 percent of workers means that Renault only needs one other union to sign onto the deal. Another union, the CFDT, has spoken positively of the agreement but will not take a decision until next month.

Renault reports profit, shares jump

French automaker Renault reported on Thursday a 15.3-percent drop in net profit to 1.77 billion euros ($2.4 billion) last year of which nearly half came from a gain on the sale of a stake in Swedish group AB Volvo. Renault's results were far stronger than those of crisis-stricken PSA Peugeot Citroen which has reported a 2012 loss of 5.0 billion euros owing mainly to writedowns to reflect weakness in the French auto market.

Renault to recall more than 60,000 cars in China: report

French car maker Renault has begun recalling more than 60,000 cars exported to China over problems with their fuel gauge sensors, China's consumer quality watchdog said, according to state media. The recall affects 61,508 Koleos sports utility vehicles made between 2008 and 2012. After prolonged use, the fuel-level sensors fail to deliver correct readings and are unsafe, a government agency told Xinhua on Saturday.

France's Renault recalling over 60,000 cars in China-Xinhua

BEIJING, Feb 10 (Reuters) - French carmaker Renault has started recalling over 60,000 cars exported to China due to problems with their fuel level sensors, state news agency Xinhua quoted the Chinese consumer watchdog as saying. Renault's China unit this week started recalling 61,508 Koleos sport utility vehicles produced between Dec 16, 2008 and July 10, 2012, Xinhua quoted the General Administration of Quality Supervision, Inspection and Quarantine as saying on Saturday.

Formula One: F1 testing times

Fastest times on Friday on the fourth and last day of the opening testing programme for the 2013 Formula One season:
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