Renaultís Q1 results up 11.7%

Worldwide
Published:  22 April, 2016

Groupe Renault has posted revenues of almost Ä10.5 billion in first-quarter of 2016, up 11.7% year-on-year; attributed to the recovery of the European market and the success of its vehicle range.

The French automotive manufacturer reported a 7.3% increase in global registrations for the first-quarter of 2016, representing a total of 692,453 vehicles delivered worldwide.

The Groupís registrations were up 8.9% in Europe. Despite downturns in the Russian, Brazilian and Algerian markets, the manufacturer increased registrations by 4.7% in other overseas markets, particularly marked by a 36.1% increase in the Africa, Middle East and India regions.

Renault confirms its guidance for full-year 2016. Considering the growth in European demand in the first-quarter, the Group has raised its full-year forecasts for the market by around 5%, compared to the previous +2%. On the other hand, given current political and economic turbulence, the Brazilian market is expected to decline further than anticipated (-15% to -20%, instead of -6% previously).

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