12:16 pm, April 20, 2023
Renault Group today reported ‘a solid start’ to the year with a 30 per cent rise in revenue during the first quarter.
It said group revenue went up to €11.5bn (£10.14bn) between January and March versus the same period in 2022, with automotive revenue comprising €10.5bn (£9.26bn) of that figure.
Worldwide sales totalled 535,000 vehicles in the first quarter – up 14.1 per cent compared with 2022’s first three months.
Sixty-eight per cent of group sales on the retail channel came from Renault’s five main countries in Europe: the UK, France, Italy, Germany and Spain.
In Europe, group sales were up 27.3 per cent in a market that was up 16.2 per cent, although precise figures weren’t given.
The Austral has recorded 15,500 sales this first quarter, said Renault, and more than 11,000 of the Megane E-Tech Electric were shifted.
The Arkana, meanwhile, recorded more than 18,500 sales during the first three months of the year, of which 60 per cent were the E-Tech version.
Dacia enjoyed sales figures that were up by 41 per cent to almost 150,000 units in Europe in the first quarter, which Renault attributed to what it hailed as the successful renewal of its range.
Renault Group took the opportunity of making its first quarter announcement to say that it was pursuing its electrification offensive.
It said the brand was maintaining its leading position in Europe in the first quarter with a 24 per cent volume increase in electrified (EV, hybrid and plug-in hybrid but excluding mild-hybrid) passenger car sales versus last year.
This accounted for 38 per cent of the brand’s passenger car sales in Europe, it added.
Renault also said its group order book in Europe remained at record levels in absolute value and was at 3.3 months of sales at the end of the first quarter.
These will stay above the target of two months throughout 2023, even with a market that is 30 per cent below that of 2019, it added.
Chief financial officer Thierry Piéton said: ‘Renault Group is off to a solid start in the year with a 30 per cent increase in the first-quarter revenue, supported by strong pricing and product mix effects.
‘The group pursues its commercial policy focused on value – by optimising its pricing policy and commercial discounts, and focusing on the most profitable channels.
‘It also benefits from the first successes of its renewed line-up with Arkana, Megane E-Tech Electric and Austral for the Renault brand and Dacia Jogger.
‘The strong order book at the end of March and all forthcoming launches will keep supporting the group’s commercial activity.’
