cent
The sales financing subsidiary of manufacturer Renault, RCI Banque,
grew its contribution to group revenues by 4 per cent over the same
period in 2007, to €1.1bn (£827m).
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Overall, the Renault Group’s operating margin for the half stood at
€865m (£678m), which Renault said represented 4.1 per cent of
revenues, compared with 3.5 per cent in H1 2007.
The contribution made by RCI Banque to the overall operating margin
was €267m (£209m) – 25.3 per cent of the finance captive’s
revenues, down slightly from 26.8 per cent in the same period last
year.
Renault has entered into a global alliance with fellow manufacturer
Nissan, to share carmaking platforms and to benefit from economies
of scale. As a consequence of this partnership, RCI Banque is
working with Nissan Finance. For the moment, however, the two
finance captives are still reporting their results separately,
although RCI Banque is financing some sales of Nissan cars in
Europe, a Renault spokeswoman said.
Jo Tacon
