Mexican Media Brands
Renault’s Revenue Slips 3%
Renault Group says its revenue in the third quarter dropped to €8 billion from €8.3 billion a year earlier.
#economics
Share
Renault Group says its revenue in the third quarter dropped to €8 billion from €8.3 billion a year earlier. The company blames unfavorable exchange rates and a collapse of demand in Iran.
Unit sales grew 3% to 614,900 vehicles in July-September, including a 10% increase in Europe. The group says sales by its Dacia brand set a quarterly record, but the company did not report specific results.
Renault notes that the region's ailing market expanded nearly 3% in the third quarter. The company's own new-car registrations jumped 28% in Italy, 30% in Spain and 43% in the U.K. Its sales declined 3% in Germany. Renault did not report actual unit sales for any of those markets.
Registrations outside Europe, which account for 52% of the company's volume, fell 3% because of a 23,000-unit drop in Iran. When that market is excluded, third-quarter sales rose 5%.
Renault says its new-vehicle registrations climbed 18% in Russia, 16% in South Korea and 3% in the Mediterranean region in the third quarter. Sales were flat in India.
RELATED CONTENT
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.