Renault Swings to Profit on EVs Despite Rise of Chinese Rivals
14 Articles
14 Articles
Renault reported a 9.4% increase in revenues in the first half of the year and returned to profit, supported by the strong advance of electric car sales, despite the increasing pressure of Chinese manufacturers on European prices, broadcasts Reuters.
The automaker reported first-half revenue on Wednesday that significantly exceeded analysts' expectations, reaching €30.25 billion, a 9.5% increase. The FactSet analyst consensus had forecast €29.05 billion. Another consensus of 21 analysts, sent to the press by the automaker itself, indicated €29.04 billion. This growth was driven by "a strongly positive effect from sales to partners," such as vehicles manufactured by Renault for Mitsubishi a…
Francois Provost, CEO of the group, asks the European Union for greater consistency in the rules in order to better adapt to the electrification processes Carlos de Miguel
Renault reiterated its goals for the whole year and stated that cost-cutting efforts are bearing fruit, after registering revenue growth in the first half of the year. The company released a profit of €705 million for the first six months of the year. Exclusive material for subscribers. To have full access, access the link of the material and register.
Renault swings to profit on EVs despite rise of Chinese rivals
By Gilles Guillaume PARIS, July 29 (Reuters) - Renault posted a 9.4% rise in first-half revenue on Wednesday and swung back to profit thanks to strong electric vehicle sales, as it withstood growing pressure from incumbent rivals and Chinese newcomers...
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