Renault optimistic for 2003 despite slipping this year

French car producer Renault has announced that it hopes to sustain its 10% share of the automobile market in 2003 and also plans to construct a new showroom and company headquarters in Warsaw - an investment worth around zl. 12 million. Philippe Jombart, head of Renault Polska, admitted that the company had failed to maintain its position of last year falling from second to the third position in 2002. Renault Polska expects to maintain its market position mainly due to the introduction of its new Megane 2, sales of which are estimated at 4,600 in 2003 as part of its estimated total sales of 350,000-360,000 passenger and delivery vehicles. Furthermore, Laurent David, the head of Renault Credit Polska (RCP), predicts that an increase in automobile sales in 2003 will be partly triggered by the expected cut in interest rates on bank loans. This year RCP financed 43% of all Renault cars sold, while in 2000 the figure stood at only 24%. Around 65% of buyers taking up financing deals are private customers. In 2003 the company hopes to increase the number of leasing contracts to 2,100 from last year's 1,500. (Rzeczpospolita, p. B5) A.K.