November 14, 2012 / 7:03 AM / in 5 years

Renault says may miss no-frills car goal -paper

PARIS, Nov 14 (Reuters) - French carmaker Renault said it may miss its target of selling 1 million low-cost vehicles this year, Les Echos reported on Wednesday.

Renault’s so-called Entry range of vehicles may miss the global deliveries goal by as much as 5 percent, the newspaper said, citing Renault programme director Arnaud Duboeuf.

“It will be close,” he was quoted as saying.

Financial sanctions against Iran are weighing on sales of Renault’s no-frills cars in the country, compounding the effects of declining European auto demand, the paper said.

The Entry range, which includes models such as the Duster SUV, Logan sedan and Sandero compact, has been a major sales driver for Renault and a source of resilience for the group amid Europe’s worst auto-market slump in decades. (Reporting by Laurence Frost; Editing by Hans-Juergen Peters)

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