PARIS, April 24 Renault's
first-quarter revenue fell 11.8 percent, the French carmaker
said on Wednesday, predicting a contraction in the European
market at the higher end of its previous forecast.
Revenue for the first three months dropped to 8.27 billion
euros ($10.7 billion) on a 4.7 percent fall in global deliveries
to 608,455 vehicles, the company said in an emailed statement.
The French and European auto markets are expected to fall 5
percent, Renault also said a month after predicting a regional
contraction of between 3 and 5 percent.
"Conditions in Europe were tougher than expected" in the
quarter, Renault said.
The company nonetheless reiterated its goal of achieving a
positive automotive operating margin and free cash flow for the
($1 = 0.7695 euros)
(Reporting by Laurence Frost; editing by Jane Baird)