Renault sold even fewer cars in the third quarter of 2022 than in the already poor third quarter of 2021. Unlike then, the French can now speak of increasing turnover.
In total, the Renault Group sold 481,000 cars in the third quarter of 2022. That is even less than in 2021, when there was already a drop of no less than 22.3 percent with 599,027 cars. Where ‘cars’ is written, ‘vehicles’ would secretly be better, because of course company cars are also included.
Unlike then, there is now also good news, because the turnover amounted to 9.8 billion euros. According to Renault, that is 20.5 percent more than last year, although we have to calculate like the French do. In May, as a result of the war in Ukraine, Renault said goodbye to its activities in Russia, split into a stake in Lada parent company Avtovaz and Renault Russia. Because those activities have been discontinued, Renault does not include the turnover of those branches in 2021 in the current calculation. Turnover then fell from 9 billion to 8.13 billion, which indeed brings us to that 20.5 percent. Counting from the original 9 billion, there is still an increase of about 9 percent.
The higher turnover has consequences for the profit forecast. Where a margin of 3.6 percent remained for Renault last year, Renault expects an operating profit of 5 percent for 2022. The share of ‘electrified’ also increased in 2022. In the first 9 months, 38 percent of Renault brand cars sold carried the E-Tech label, meaning hybrid or fully electric. The Renault Group includes Renault, Dacia, Alpine, the Chinese Jinbei and Huasong and the mobility branch Mobilize. France is by far the largest market for the group, followed by Germany, Italy and Turkey.
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– Thanks for information from Autoweek.nl