Renault’s first quarter revenue fell 9% 9.54 billion-euros

Article by Anita Panait, on April 27, 2012

Renault logged a nine-percent decline in revenues for the first three months of 2012 to EUR9.54 billion, down from EUR10.4 billion for the same period in 2011. The company blamed the current weak European market, the continent’s financial crisis, and overcapacity, for its poor sales performance in the region. Renault’s global sales volumes dropped 7.9 percent to 638,498.

In a statement, Renault said that the European market, particularly the French market, was weaker than it anticipated.  Last year was a good year for carmakers in Europe as drivers took advantage of incentives for trading in old units for newer ones. Renault expects the fall in the European market to slow in the second quarter of 2012.

France's automakers' association CCFA reported earlier this month that Renault’s deliveries in the country dropped 25 percent in the first quarter, while industry association ACEA disclosed that the company registrations in the 27 European countries including Switzerland, Iceland and Norway plunged 23 percent in the first quarter of 2012 to 281,969 vehicles.

Renault, however, remains positive about its overall results at the end of the year, expecting its global sales to grow by around 3 to 4 percent, according to Jerome Stoll, the company’s sales chief. Renault is banking on sales on markets outside Europe and on the roll out of nine new models to spur its global sales.

Stoll said Renault expects sales for the first half of 2012 to remain flat from a year ago, while anticipating growth in the second half of the year. Renault also confirmed its full year objective of having a positive operational free cash flow, and record ratio of capital expenditures and R&D under nine percent of group revenues.

Topics: renault, income

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Nearly a decade after Opel and sister brand Vauxhall introduced the Insignia large family car, these companies are now getting ready to unveil the second generation of this offering from...
by - December 7, 2016
After we caught a glimpse of the revamped Amarok, VW Australia once again wants to give its ute a sinister look inspired by the Mad Max movie franchise. The “Korama”...
by - December 7, 2016
Customers in the European market are known for leaning towards style and with this in mind, Nissan has revealed the special LEAF Black Edition. While the production run of this...
by - December 7, 2016
When Volkswagen unveiled the VW Atlas, it declared that this SUV is being developed for the United States and is set to arrive as a 2018 model. It also unveiled...
by - December 7, 2016
Did you miss the opportunity to get a brand new Dodge Viper? Well, here’s something you don’t want to miss. Dodge has announced a “final call” for orders for its...
by - December 6, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries