(Finance) – Renault Group recorded 549,099 sales In the first quarter of 2024up 2.6% compared to the first quarter of 2023. In Europe, the Group maintains third position with 391,490 units sold, up 4.3%.
THE revenues amounted to 11,707 million euros, an increase of 1.8% compared to the first quarter of 2023. At constant exchange rates, the Group’s revenues increased by 5.9%.
The revenues of automotive sector reached 10,446 million euros, down 0.7% compared to the first quarter of 2023. Includes -4.3 points of negative exchange rate effect (-447 million euros) mainly linked to the devaluation of the Argentine peso and to a lesser extent of the Turkish lira.
“First quarter revenues continue to demonstrate the rigorous application of our value-focused business policy,” he said CFO Thierry Piéton – The strong order book at the end of March and our upcoming launches will provide a sequential acceleration of activity. Together with increased cost reductions, they will boost our financial performance.”
The Group confirms its views perspectives financial for the year 2024 with: an operating margin greater than or equal to 7.5%; a free cash flow greater than or equal to 2.5 billion euros.
The upcoming product offensive and accelerated cost reduction will remain the drivers of operational performance and strong cash generation in 2024, it said in a statement. 2024 is described as “a historic year” with 10 new vehicle launches (7 new vehicles under the Renault brand, 2 vehicles under the Dacia brand and 1 vehicle under the Alpine brand). Focus on cost reductions and faster time-to-market for both thermal and electric vehicles, already committed to a continuous trajectory.