Revenue for Groupe Renault amounted to €11,296 million (-1.6%) in the third quarter of the year, down 1.4% at constant exchange rates. A total of 852,198 vehicles were sold in the quarter, down 4.4% in a global market that was down 3.2%. Excluding Iran, the decrease would have been 1.8% in a market down by 2.3%, according to the French carmaker. Sales in Europe declined by 3.4%, partly attributed to a high comparison basis related to the introduction of the WLTP for passenger cars in September 2018. Outside Europe, the Group said it over performed the market (-6.2%), recording a 5.4% decrease in sales, mainly due to the decline in markets such as Turkey (-21.7%), Argentina (-30%), and the end of sales in Iran since August 2018 (23,649 vehicles sold in the third quarter 2018). Excluding Iran, sales would have been down 0.3%.
Brazil saw its volumes increase by 5.6% and South Korea by 11.5%, attributed to the success of the QM6 in the latter market. In China, the Group’s volumes declined 15.5% in a market down by 5%, where the New Captur and Renault City K-ZE, the new electric city car, are to be launched.
According to Groupe Renault, in 2019 the Global Automotive market is expected to decline by around 4% compared with 2018 (versus around -3% previously anticipated). The European market is expected to remain flat or contract( 0% to -1%), while the Russian market is forecast to decline around 3% (versus -2% to -3% previously) and the Brazilian market to grow by around 7% (versus around +8% previously).
