Renault revenues add to € 37.4 billion through September

By Redação AutoIndústria | Translated by Jorge Meditsch

O[/dropacap]ne week after releasing a positive result in global sales, Renault revealed the group’s financial balance in the first nine months of 2023 with a revenue of € 37.4 billion, 21.1% more than last year. The automotive division’s income grew by 20.1%, reaching € 34.2 billion.

The group’s vehicle sales increased by 10.9% worldwide and 21.3% in Europe in the third quarter, with the revenues totaling € 10.5 billion – € 9.4 billion from the automotive area – a 7.6% growth over the same period in 2022.

The group confirmed this Thursday, 10/19, the financial forecast for the year: operational margin from 7% to 8% and a free cash flow equal or over € 2.5 billion.

“Once more, the Renault Group presents a solid performance with a 13.8% income revenue increase in the third quarter, considering stable exchange rates. We are starting the last quarter confident and confirming the improvement of our profitability over the second trimester, leveraged by our product offensive and the benefits of our cost reduction program and a strict commercial policy focused on value”, commented Thierry Piéton, the group’s CFO.

The executive also emphasized that the company is swiftly advancing in all its Revolutione projects, recalling the launch of the Horse at the beginning of the second semester and the signature of the joint venture contract with Geely. “Ampère’s carve-out will happen in November, and we will present this strategy in a Capital Market Day next November 15”, revealed Piéton.

Photo: Renault