November 20, 2012 / 11:51 AM / in 5 years

Renault sees the market expand to 100 mln units-COO

PARIS, Nov 20 (Reuters) - French automaker Renault sees the global auto market expanding to over 100 million new cars by 2020 despite the current stagnation in Europe, its chief operating officer said on Tuesday.

“In 2011, the global market was 78 million units, we expect for 2020 a market above 100 million,” Carlos Tavares told journalists during an industry conference.

“Hence, there is no reason to be desperate about the car market, there is a very large growth potential but we have to be able to follow the changes, especially geographic,” he added.

Tavares said Renault would make half of its sales outside Europe this year, head of its original target of 2016, the last year of its strategic plan. (Reporting by Gilles Guillaume; Editing by Christian Plumb)

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