Renault saw revenues drop 3% to EUR8 billion in 3rd quarter

Article by Anita Panait, on October 28, 2013

Renault logged a 3-percent drop in revenues in the third quarter of 2013 to EUR8 billion ($11.04 billion), partly due to Iran sanctions. Likewise, the drop came as weaker emerging market currencies more than offset gains in pricing and sales volumes. Despite the revenue drop, Renault said that it remains on track to meet its objectives for 2013, reiterating its vow to deliver a global sales surge supported by a positive auto division operating margin and free cash flow.

The carmaker saw its automotive division revenue eaten up by the weaker Brazilian real, Argentinian peso, Indian rupee and Russian ruble against the euro. Renault has been shrinking the pricing gap with Volkswagen as it launches new models like the Captur compact sports utility vehicle and updated Clio subcompact.

Renault saw its global sales volumes surge by 3 percent thanks to strong demand in Russia and Turkey, which helped make up for 23,000 lost vehicle sales to Iran, stopped by international sanctions.

The carmaker’s RCI Banque car loans arm contributed a 0.4-percent increase in quarterly revenue to EUR515 million, with new financing contracts rising by a quarter to 286,300 in the third quarter of 2013.

Renault Captur is the latest urban crossover from Renault. Its gliding lines emphasize its distinguishable proportions, while its huge wheels, lavish ground clearance, broad tracks and steeply raked, forward-set windscreen frame a one-of-a-kind mix of MPV, SUV and hatchback, devised and produced by Renault. Renault Captur lends itself precisely to a broad customization program, too.

With its numerous permutations of two-tone bodywork, wheel colors, light and dark interior trims, upholstery textures and graphic motifs, Captur will speak to an especially broad range of tastes and desires.

The ingenious freedom enjoyed by Renault's designers reveals through in the elements and lavish interior space demanded of this kind of car. In spite of the fact that it is compact (it is only fractionally longer than New Clio), Renault Captur is especially spacious. The sliding rear seat gives the perfect symmetry of space for passengers and their gear, with a peak carrying limit of 455dm3 (up to the baggage cover).

In the passenger compartment, two state-of-the-art innovations highlight Captur's character as a genuinely user-friendly car: a huge drawer-type glove box, which is easy for the driver to get and takes up 11 liters, and the availability of removable seat covers which can be unfastened, machine washed at home and refitted.

Meanwhile, the in-dash Renault R-Link multimedia tablet gives entry to another level of connectivity, with an ever-expanding library of committed motoring apps.

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Topics: renault, revenue



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