Turkish sales help Renault rise profit

Renault SA’s profit rose 27 percent in 2003 as contributions from its Japanese and Swedish affiliates offset sluggish sales in its key European market. The French automaker, which holds equity stakes in Japan’s Nissan Motor Co. and AB Volvo of Sweden, earned 2.48 billion euros ($3.15 billion) in 2003 versus 1.96 billion euros in 2002. Revenue rose to 37.53 billion euros ($47.7 billion) from 36.34 billion euros in 2002.

Its worldwide vehicle sales fell 0.7 percent to 2.39 million vehicles, though the company maintained its 4.1 percent share of the world market.