Yesterday, French automaker, Renault unveiled 10 new car models and their financial targets. Aside from the expected sale boosters, the Clio and the Laguna, Renault also launched several models in the opening of the Frankfurt Auto Show.

"The product offensive we promised is now well underway," said Chief Executive Carlos Ghosn in a press conference at the Frankfurt International Auto Show.

"This is the first wave of product launches that will allow us to get back growth in Europe, boost expansion outside Europe and sell 800,000 more cars in 2009 than in 2005," added Ghosn.

Ghosn also revealed Renault's target operating profit margin of 3 percent for this year, 4.5 percent for 2008, and 6 percent in 2009.

Other Renault vehicles that had their debut in the Frankfurt Auto Show includes the Sandero, a vehicle based on the platform for the Logan no-frills car for the Latin American market from November.

The Clio Tourer, a Laguna coupe concept that features a V6 engine and the new Kangoo leisure vehicle and also the Koleos SUV.

"We have been on the defensive, now it is time to go on the offensive," Ghosn said.
With the Green technology focus of the 2007 Frankfurt Auto Show, Renault is also generating cars that has low CO2 emissions and wants to keep their record of producing these environment-friendly vehicles.

"Never before has Renault developed so many models in such a short time to such exacting standards. Despite strong headwinds the entire team rallied around and so far we are definitely on the right track," Ghosn said.

Because Renault recently added production capacity to their low-cost Logan car, it does not mean that the company has the intention to become a low-cost company.

"There will be more high-end cars -- three Lagunas and more high-end four-by-fours. But if you are not present in the low cost segment you are going to lose your competitive edge," he said.