Sales increased: Renault shares: Renault benefits from price increases | news

Sales increased: Renault shares: Renault benefits from price increases |  news

Overall, the proceeds from July to September reached 9.8 billion euros, a fifth more than a year ago, as Renault announced on Friday in Boulogne-Billancourt near Paris. The discontinued business in Russia has already been excluded from the previous year’s figures. Nearly 13 percentage points of the growth came from price increases — the company’s biggest increase ever, it said. In addition, Renault increasingly sold the vehicles through more profitable channels.

Renault sold 481,000 vehicles in the three months, 2.4 percent fewer than a year ago. However, the situation surrounding the supply of semiconductors for production eased, so that dealers reduced their inventories less than a year ago. In this way, Renault sold more cars to dealers, which can be booked in sales. The overall proceeds were as expected by analysts, but the experts had expected more in the car business itself.

As is usual in France, Renault only provides information on profit figures every six months. The company is sticking to its goal of increasing the operating profit margin to over 5 percent of sales for the full year. On November 8th, the management wants to report on its further strategy and refresh the medium-term goals at a capital market day. In addition, there could then be news about the strategic alliance with Nissan: Recently there was speculation that the Japanese could buy into a Renault electric car division to be spun off and that the French, in return, would reduce their 43 percent stake in Nissan to 15 percent.

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BOULOGNE-BILLANCOURT (dpa-AFX)

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