President says Renault in F1 to stay

Renault's president Carlos Ghosn has reiterated the French car maker's commitment to Formula One following their double championship victory this year

President says Renault in F1 to stay

"We are in Formula One to stay, and we have made that clear," said Ghosn. "New regulations will come into force from 2007 and in the following years, and we are familiar with them as we played a role in framing them.

"I think these regulations will, in time, help us to offer the public a better show, and bring even more intense competition between the manufacturers.

"For Renault, this is an investment - and an investment that aids the growth of the Renault brand and Renault's products."

Ghosn had already said in the past that Renault would stay in the sport as long as it proved to be a good investment.

The French squad won both the drivers' and constructors' championships for the second year in a row, and they have already committed to staying in Formula One at least until 2012.

Ghosn was delighted with the team's successes, admitting it justifies the huge investments.

"Obviously I am very happy with this victory, and very proud of the entire team," Ghosn added. "It is an important victory because it justifies the investment Renault has made in Formula One, and will make in the future. More and more, Formula One is working as an investment for us, not a loss.

"Firstly, it helps to grow awareness of our brand in markets where we are little known and looking to grow. Secondly, in markets where the brand in known, it strengthens our image.

"It gives us a youthful, competitive personality, its shows we are a company with cutting-edge technology, that we are brave enough to take part in a competition against most of the other major manufacturers and, most importantly, capable of winning.

"It also brings an image of reliability because our cars finished almost all the races, not just when they won but also in the other positions. This win brings a lot to Renault, and now it's our job to transform that into a sales victory through the current products, but also in the product offensive that begins in the coming months."

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