Revenue increased by +5.9% at constant exchange rates to €11.7 billion in the first quarter of 2024 compared to the first three months of 2023, marking a strong rebound for the group.
The turnover linked to automobile sales was slowed at the beginning of 2023 by the devaluation of the Argentine peso and the Turkish lira, and fell globally by 0.7% in one year, the management of the French manufacturer indicated in a statement.
The growth in registrations in the first quarter (+2.6% year-on-year to 549,099 vehicles) was also offset by a significant reduction in inventories from the group’s independent dealer network. In Europe, Group sales increased by 4.3%.
In general, cars from the Renault, Dacia and Alpine brands sold better and more expensive in the first quarter of 2024 than at the beginning of 2023.
New features expected
But the manufacturer’s range expects important new features to take off from the second quarter of 2024, such as the electric R5 and Scenic, the Dacia Spring and a small electric Alpine.
The group’s financial subsidiary, Mobilize Financial Services (formerly RCI Bank), for its part, had a turnover of 1.2 billion euros, 27.9% more in one year, due in particular to the rise in interest rates.
Renault has confirmed its financial objectives for 2024.
“The turnover for the first quarter continues to illustrate the strict application of our value-focused commercial policy. The high level of the order book at the end of March, as well as our upcoming launches, will allow a sequential acceleration of activity combined with further cost reduction. , will be the levers of our financial performance,” comments Thierry Piéton, financial director of the Renault Group.
Source: BFM TV
