The French automaker’s third quarter revenue surged 9.4 percent thanks to increased business with its partners Nissan and Daimler as well as higher deliveries of its autos in the recovering European region.
But the carmaker did underperform the entirety of the European region, as the 6.5 percent advancement in sales compared to the overall industry’s 9.2 percent surge, even as the namesake brand had crucial launches such as the Kadjar crossover and Espace MPV. According to a statement issued by the company, overall revenue soared up to 9.34 billion euros ($10.24 billion) during the three months period and worldwide deliveries gained 1.2 percent. Showcasing again its dependence on the 43.4 percent-owned Japanese affiliate, engines and models produced for alliance partner Nissan and Daimler made up at least half of the 10.2 percent revenue increase seen at Renault’s core manufacturing unit. Most recently, Renault has started manufacturing the Nissan Rogue sport utility vehicle in South Korea for export to the US market and of the Smart ForFour minicar in Slovenia for the Daimler marquee.
“We’ve been a little bit late in the delivery of some cars,” commented sales boss Jerome Stoll during a conference call with analysts and media representatives. That was because production was not quickly enough adjusted to the hastened recovery in Europe, causing delivery backlogs, but the executive declared himself “very confident” of the automaker’s ability to recapture the lost market share in a production ramp up during the final months of the year.
Via Automotive News Europe