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Renault Revenue Drops 12%
Renault SA generated €7.7 billion in revenue in the January-March period of 2013 compared with €8.9 billion a year earlier.
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Renault SA generated €7.7 billion in revenue in the January-March period of 2013 compared with €8.9 billion a year earlier.
Registrations of the company's vehicles declined 5% to 608,500 units worldwide. Deliveries fell 12% in Europe, where Renault says the market was weaker than it expected. The company now predicts that auto sales in France and the rest of Europe will contract 5% this year the low end of its earlier forecast.
Sales slid 8% in the Americas, in part because work at a major assembly plant in Brazil was suspended while the facility was expanded. Volume grew 4% in Asia Pacific.
For the full year, Renault continues to predict improved sales volume, a positive operating margin and free cash flow from auto operations. The company cautions that its forecast assumes that European markets aren't worse than it projects.
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