> Ghosn: Titles justify investment

Renault’s CEO Carlos Ghosn has applauded the success of the company’s Formula 1 team in winning the drivers’ and constructors’ titles for the second straight year, saying it justifies the carmaker’s multi-million dollar investment in the sport.

Ghosn – nicknamed “Icebreaker” and “Le Cost Cutter” for the methods he used to turn around Nissan – was initially regarded as sceptical of the benefits of Renault’s F1 involvement and acutely conscious of its financial cost.

He made it clear he would take an entirely unsentimental view of the F1 operation, judging it by the contribution it makes to Renault’s road car sales.

In light of the race team’s remarkable success over the past two years, Ghosn is satisfied F1 is paying handsome returns.

“Obviously I am very happy with this victory, and very proud of the entire team,” he said.

“It is an important victory because it justifies the investment Renault has made in Formula 1, and will make in the future.

“More and more, Formula 1 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.”

Boosted by the success of Renault F1 president Alain Dassas’ in helping to broker a cost-cutting agenda for F1 in the future, Ghosn reiterated the company’s long-term commitment to the sport.

“We are in Formula 1 to stay, and we have made that clear,” he said.

“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.”

The French manufacturer has signed up to F1 until at least the end of 2012.