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Hard years for Renault

22nd September 2005
Page 10
Page 10, 22nd September 2005 — Hard years for Renault
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Which of the following most accurately describes the problem?

Renault Trucks was on the verge of pulling out of the UK in 2001, according to Renault Trucks president Stefano Chmielewski.

He reveals the trading position in the UK was so serious at that time that the parent company took a long hard look at the viability of the UK operation. We asked the shareholders to give us the opportunity to prove our worth. We're now in a sufficiently profitable situation that they no longer question the future."

Chmielewski, talking exclusively to CM at the launch of the Renault Premium, says profitably at Renault Trucks has doubled year on year since 2001: 'These have been some tough times for us during the past four years as we have sought to demonstrate our strength to the shareholders.

"We're making money for the shareholders it's now time our dealers and customers were able to make some money."

It hopes to sell its European dealer network. "We've already sold many dealerships and others may follow. We're looking for private investors who know the business well."