Renault Tops Expectations As New Model Boosts Sales

French car manufacturer Renault has experienced better-than-expected revenue performance in the third quarter of the year, as demand for new models soared, leading to increased sales, Indrabati Lahiri reported for Euronews.

For the first nine months of the year, group revenue reached €37.7 billion, a rise of 0.8% compared to Q3 2023. I Photo: Renault Facebook

The French automotive group Renault released its third-quarter results recording a jump in revenue, bucking the trend of weakness currently seen in the auto industry across Europe.

The company reported group revenue of €10.7 billion for the third quarter of the year, an increase of 1.8% from the same period last year. Auto revenue for Q3 2024 totaled €9.3 billion, down 0.5% compared to the same period last year.

For the first nine months of the year, group revenue reached €37.7 billion, a rise of 0.8% compared to Q3 2023. Auto revenue for the first nine months of 2024 totaled €33.7 billion, a 1.5% decrease from the same period last year.

This decline was largely offset by sales driven by increasing demand for the company’s new vehicle range, which included models such as the Symbioz, Scenic E-Tech Electric, Duster, and Rafale.