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Renault Boosts Sales But Not Revenue
Renault SA reports sales of 636,200 units in the first quarter of 2014, up 5% from the same period last year.
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Renault SA reports sales of 636,200 units in the first quarter of 2014, up 5% from the same period last year. Sales in Europe jumped 18%.
But auto-related revenue was flat at €7.7 billion for the three-month period. Renault says a slightly richer sales mix was more than offset by unfavorable exchange rates in emerging markets.
By region, Renault's group sales climbed 9% in the Americas and 8% in Europe. But demand slipped 1% in Euroasia, dropped 15% in the Mediterranean-African region and plunged 30% in Asia Pacific.
Sales in the first quarter outside Europe accounted for 43% of all group sales compared with 49% a year ago.
For the full year, Renault expects a slight decline in new-car market demand in Brazil and Russia. But the company has doubled its outlook for Europe to at least 2% growth in 2014.
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