Renault SA attributes the 7.6% increase in third-quarter sales to the growth in emerging markets such as Russia, Brazil and Argentina. The carmaker revealed that its revenue rose to 8.71 billion euros ($12 billion) from 8.1 billion euros a year earlier.
Jerome Stoll, Renault's sales chief, said in a conference call that the European market was “better than expected” during the third quarter.
Deliveries rose by 5.7% to 591,855 vehicles, surpassing the global market's 4.6% expansion. Emerging markets outside Europe made up 42% of third-quarter group sales, with Renault sales increasing by 22.8%.
The gains were led by a 41% increase in Latin American sales. This was followed by a 37% increase in the Eurasia region including Russia, where the government offers sales incentives.
Renault also disclosed that group sales decreased by 4% in Europe, less than the 11.5% drop in the market.
Automotive revenue gained 7.9% to 8.27 billion euros in the quarter. Meanwhile, the sales-financing division posted a 1.1% increase to 443 million euros. [via autonews - sub. required]