The Renault group posted a turnover of almost 30% in the first quarter to 11.5 billion euros on Thursday, not counting the effect of Russia’s withdrawal.
The automaker benefited from price increases, with good sales of hybrid, electric and C-segment vehicles with its Austral and Arkana SUVs, according to a group press release.
The order book remains well filled, with around 3.3 months of sales at the end of March, Renault said, estimating it will remain above two months in 2023.
Billing no longer includes the group’s activities in Russia, from which Renault parted ways in May last year after the invasion of Ukraine, a drop of more than 800 million euros.
Financial perspectives for 2023
The group confirmed its financial outlook for 2023, with an operating margin greater than or equal to 6% and free financial flows in the automotive sector greater than or equal to 2,000 million euros.
Renault had regained a foothold in 2022, offsetting a sharp drop in sales and a costly withdrawal from Russia with price increases and thanks to profitable Dacia models.
The annual turnover of the French manufacturer had thus jumped 11.4% to 46,400 million euros, with an operating margin multiplied by two to 2,600 million euros and 5.6% of business turnover.
Source: BFM TV
