Renault Says Hollande Must Reform Labor Costs and Regulations

Sounds like something a socialist president would do


Renault SA (RNO) says if President Francois Hollande wants more cars built in France, he needs to tackle the country's high labor costs and rigid work rules.

France's second-largest carmaker, which is based near Paris and 15 percent owned by the government, built fewer than a quarter of the 2.83 million cars that rolled off its assembly lines last year in France. With plants around the world, Renault makes its Clio hatchback in Turkeyand is ramping up production at a new 1 billion-euro ($1.29 billion) factory in Morocco.