Renault reports €2.1bn net profit

French car maker Renault said today its earnings fell in 2011 compared to a year earlier, when it booked an exceptional €2bn gain on the sale of part of its stake in Sweden’s Volvo.

Renault, France’s second largest car producer behind Peugeot-Citroen, reported net profit of €2.1bn, down from €3.4bn a year earlier, when earnings were boosted by the sale of Volvo shares Renault acquired when it sold its truck making division to the Swedish car maker in 2001.