Renault sales tumble, but the year will likely close as expected

R

Renault saw sales decline in the third quarter, but maintained the outlook for the entire financial year. This was apparent on Friday from the figures of the French automaker.

Revenue in the third quarter fell from 10.4 billion euros to just under 9 billion euros on an annual basis. This is a little better than expected. Analysts who contributed to the consensus of FactSet counted on 8.9 billion euros in revenue.

In the last quarter, Renault saw the number of vehicles sold decrease by 22.3 percent to 599,027 units. According to the automaker, this is due to production stops and shortages of semiconductors.

Renault estimates the production loss at around 170,000 cars in the third quarter due to a lack of components. Over the whole year, Renault expects to be able to produce almost 500,000 vehicles less.

Renault confirmed the expectations for the entire financial year. The operating margin is expected to be in the same order of magnitude as in the first half of the year.

Renault also aims for positive operational free cash flow at Automotive, excluding changes in working capital requirements.

About the author

Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

Add comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Posts

Categories