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Renault Hikes Revenue 13%
Renault SA reports its revenue in July-September climbed to €10.5 billion ($11.4 billion) from €9.3 billion in the third quarter of 2015.
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Renault SA reports its revenue in July-September climbed to €10.5 billion ($11.4 billion) from €9.3 billion in the third quarter of 2015.
Unit sales grew 16% to 721,700 vehicles worldwide, and its share of the global auto market rose 0.3 points to 3.3%. Renault brand sales climbed 8%, buoyed by new models.
Group sales in Europe jumped 11% in the third quarter. Domestic demand expanded 4% to 123,000 vehicles, and Renault provided five of France’s 10 best-selling models.
Deliveries outside Europe soared 22% in the third quarter. In North Africa, group sales advanced 14% in a market that shrank 15%. Registrations in Asia Pacific climbed 26%, more than twice the pace of overall market growth. The company reports a sevenfold surge in sales in India, led by the success of its Kwid A-segment hatchback.
Renault predicts unspecified increases in full-year group revenue, improved group operating margin and positive operation cash flow for its automotive operations.
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