The French automobile producer, Renault, skilled a better-than-expected income efficiency within the third quarter of the yr, as demand for brand spanking new fashions soared, resulting in elevated gross sales.
French automotive group Renault launched its third quarter outcomes on Thursday, recording a bounce in income, bucking the development of the weak point at present seen within the auto trade throughout Europe.
The corporate reported a gaggle income of €10.7bn for the third quarter of the yr, which was a rise of 1.8% from the identical interval final yr. Auto income for Q3 2024 got here as much as €9.3bn, down -0.5% in comparison with the identical interval final yr.
For the primary 9 months of the yr, group income was €37.7bn, which was an increase of 0.8% from Q3 2024. Auto income for the primary 9 months of 2024 got here up €33.7bn, which was a -1.5% lower from the identical interval final yr.
This was largely due to gross sales being boosted by growing demand for the corporate’s new car vary with fashions which included the Symbioz, Scenic E-tech electrical, Duster and Rafale.
The Renault model was the third hottest in Europe, within the first 9 months of the yr, whereas additionally being the preferred in France. It was additionally the highest gentle industrial car (LCV) model in Europe. Sandero was the highest best-selling car throughout all European channels.
Renault launches slew of latest fashions in 2024
Thierry Piéton, the chief monetary officer (CFO) of Renault Group, stated: “Our Q3 income is beginning to profit from our unprecedented product offensive, with 10 new launches this yr, representing 18% of our invoices over the quarter.
“This development will proceed over the subsequent quarters in step with the gradual introduction of autos on their respective markets and can speed up additional with the 7 new launches deliberate for 2025.
“This interesting and aggressive line-up, with each electrical and ICE & hybrid autos, demonstrates our flexibility to adapt regardless of the tempo of EV transition and stays a key assist for the Group’s efficiency along with price discount.
“On this difficult atmosphere, we’re accelerating our in-depth transformation with dedicated groups, to enhance our agility and construct our subsequent chapter“.
Renault Group additionally reiterated its monetary outlook for the yr, anticipating a gaggle working margin of seven.5% or increased, in addition to a free money movement of €2.5bn or extra.