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Investing.com -- Renault Group (EPA:RENA) reported a 1.3% increase in vehicle sales during the first half of the year, driven by strong demand for passenger cars under its main brand.
Total (EPA:TTEF) sales reached 1.17 million vehicles, up from 1.15 million in the same period last year.
The update comes shortly after the French automaker cut its full-year financial guidance, pointing to a deteriorating auto market and heightened competition. The group also named CFO Duncan Minto as interim CEO.
Sales of Renault-branded passenger cars rose 12% year-on-year to 642,652 units, while light commercial vehicle sales dropped 23% to 165,761 units. Its Dacia and Alpine brands also saw a decline in volumes.
In Europe, where the overall passenger car market contracted 1%, Renault managed to grow its sales by 5.4%, delivering 708,106 vehicles. The Sandero and Clio remained the group’s best-selling models in the region.
Renault said that electrified models accounted for 59% of its total vehicle sales.
Looking ahead, the company plans to expand its EV offering with new models in the second half, including a €25,000 Renault 5 E-Tech and the rollout of the Renault 4 E-Tech in Europe.