BILBAO, Spain -- Renault SA, French supplier Plastic Omnium Co. and Swedish retailer Bilia AB overcame the recent economic downturn by cutting costs and launching new products. For their successful efforts, the three companies were recognized at the Automotive News Europe Congress here today for being leaders in increasing their shareholder value in the last 12 months.
Renault led all European automakers by increasing its shareholder value 124 percent in the past 12 month, according to the Automotive News Europe/PricewaterhouseCoopers Transaction Services Shareholder Value Index. Overall, the European auto sector product a -7 percent return during the period.
Renault bucked the trend thanks to the successful launch of the Renault Megane family of compact cars.