renault/dacia logan 250 pr photo

Renault shares fell to their lowest level in nine months, and the cheapest since Carlos Ghosn took over in May, on Thursday's news that the company was cutting its operating margin forecast by almost 25 percent. The company also warned of weakening core European markets. Recently, both PSA Peugeot Citroen and Fiat warned of a weakening profit picture for 2005, but Renault had hoped that the launch of the new Clio III and sales of its emerging market-targeted Logan (pictured) would save its year.

Ghosn's three-year turnaround strategy is due to be unveiled February 9. It had better be good.

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