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Investing.com -- Renault reported stronger-than-expected third-quarter sales, supported by higher volumes across all its brands and resilient demand for new models.
Group revenue rose 6.8% year-on-year to 11.43 billion euros ($13.27 billion) in the three months to September, exceeding the company-provided consensus forecast of 6.2%.
Vehicle deliveries increased 9.8% to 529,486 units, with growth recorded across the group’s main Renault brand as well as its other marques.
“In a challenging environment, we continue to capitalise on our compelling and competitive line-up, spanning electric, ICE (internal combustion engine) and hybrid vehicles,” Chief Financial Officer Duncan Minto said.
Renault maintained its forecast for a full-year (FY) operating margin of about 6.5%, having cut the target earlier from at least 7% due to a crowded European car market. The company continues to face pressure from low-cost Chinese electric vehicle makers, while U.S. tariffs on imported cars have added further strain.
“We remain fully committed to our value-over-volume strategy, while maintaining strong focus on executing our cost-reduction roadmap,” Minto said.
He added that new models represented 30% of third-quarter sales, up from 28% earlier this year and 25% at the end of 2024. The automaker’s new compact crossover SUV Dacia Bigster has contributed to improved profitability, he said.
Jefferies analyst Philippe Houchois said Renault’s Q3 revenue was "marginally ahead of consensus with a bit more volume and country mix and a bit less product mix than expected."
"Revenue disclosure consistent with FY guidance, reiterated, for the Nth time," he added.