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Renault may miss Ghosn's 2009 target

Renault has cut its full-year profit target, meaning its unlikely to meet the targets set by Carlos Ghosn in his Commitment 2009 plan.

After Q3 revenue fell 2.2%, the carmaker adjusted its operating margin target to 2.5 to 3% compared to the previous aim of 4.5%.

It said its global sales volume will "slightly exceed" last year's 2.49m units, abandoning its aim for 5% growth.

In 2005 chief executive Carlos Ghosn set Renault the target of achieving 6% operating margin in 2009.

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