Renault, the French automaker, on Thursday has announced that its revenue rose nearly 12 percent in the third quarter mostly because of high demand for vehicles in Brazil and Russia.
Renault’s total revenue increased to 9.75 billion euros ($13.8 billion) from 8.71 billion euros a year earlier the automaker said. Excluding the effects of currency, sales increased 14.1 percent.
Automotive segment advanced 12 percent to 9,259 million euros from 8,268 million euros last year, riding on strong sales momentum.
The maker of the Clio and Logan sedans said it sold 632,412 vehicles in the period, up 6.7 percent from a year earlier. Renault’s growth came exclusively outside it’s home European market, where sales actually fell 4.4 percent.
Group sales outside Europe, boosted by the continued momentum of the markets, increased 21.9% in the third quarter and accounted for 48% of the Group’s total sales, +6 points compared to last year.
The best performance has been recorded in Eurasia Region, where, the auto giant recorded a 63.5% increase in volumes in a market that rose 28.7%. Russia confirmed its position as the fourth largest market for Renault with the success of Sandero (10,744 units sold, up 134%) and Logan (19,900 units, up 37%).
As expected Renault has already allocated 150 million euros in Russia to boost its production capacity which currently amounts to 160.000 cars. Right now, the plant produces four models, including Logan, Sandero, Megane and Fluence.