Renault Group’s revenue grows 20.5% in the third quarter

By Redação AutoIndústria  | Translated by Jorge Meditsch

The Renault Group, the owner of the brands Renault, Dacia and Alpine, celebrates a € 9.8 billion revenue in the third quarter of 2022. The result is 20.5% higher than in the same period last year. The comparison already disregards the figures of the activities of the Russian Avtovaz, operation the group got rid of in the first semester.

The automotive division grew even more, 21.7%, with an income of € 9 billion, 92% of the total. Despite this evolution, the group’s brands negotiated 481 thousand vehicles worldwide from July through September, 2.4% less.

The seeming contradiction proves the success of the commercial policy of centering efforts on offering higher aggregate value products, which started at the end of 2020.

According to the company, the most profitable sales were 70% of the retail volume in Europe’s five main markets – France, Germany, Spain, Italy and the United Kingdom – 6 percentual points more than in the third quarter of 2021. Segment C represented 41% of the businesses, a 5% growth.

Over the first nine months of the year, the E-Tech line, with electric or hybrid power, had 38% of the Renault brand passenger vehicle sales in Europe, a 12% evolution compared to last year.

“The group is beginning to benefit from the product line renewal, with the promising launch of the Renault Megane E-Tech Electric and the Dacia Jogger. The Renault Austral, which is just being launched, strengthens the group’s return to the C segment. All these initiatives are improving the competitiveness and will allow us to achieve our goals for 2022″, says CFO Thierry Piéton.

On November 8, the group will present the second phase of the Renaulution strategic plan and update its medium-term financial objectives.