Renault shares rose by 4.12 percent to 41.93 euros, while the group maintained its goals for 2024, unlike the rest of the companies. Automotive industry.
The manufacturer announced a slight increase in its sales volume in the third quarter by 1.8 percent year-on-year, amounting to $11.5 billion, exceeding analysts’ expectations.
Although the group recorded negative effects due to fluctuations Exchange ratesHowever, the sales of its two brands Renault andDacia It fell below the market average, in particular thanks to the launch of the first models in its new range, such as the Scenic Electric, Symbioz, Rafale and Dacia.
Bucking the trend of the rest of the auto industry, Renault maintained its targets for 2024, namely an operating margin of more than 7.5 percent and free cash flows of more than $2.7 billion.
Group CFO Thierry Biton said revenues benefited from “unprecedented product consolidation,” noting that Renault has 10 new launches this year and seven more in 2025.
The value of revenues also benefited from higher interest rates, which supported the car financing service.
The group maintained its prices in the third quarter and expects “strong growth” in the fourth quarter, according to Mr. Peyton, especially with the launch of its new R5 electric car.
“We are in the fulfillment business, so we must be able to ship all the cars on time and operate the factories at full capacity,” the CFO emphasized.
The group’s global sales amounted to 482,468 cars, a decrease of 5.6 percent compared to last year.
Total sales of the “Renault” brand reached 339,307 units, a decline of 4.9 percent on an annual basis. The company also expects to enhance its group’s sales during the fourth quarter, through marketing Cars New products across European countries.
