Renault revenues surge on Avtovaz bump, European demand

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Revenues at Renault rose 25 per cent in the first quarter as the French carmaker saw demand in its core European heartland strengthen.

Sales rose to €13.1bn, of which €750m was from the addition of Russian carmaker Avtovaz during the year.

The company, which has a global alliance with Nissan that sees the pair share some manufacturing and purchasing, said the number of vehicles sold rose 15.8 per cent to 874,000.

European sales rose 10 per cent to 479,000, faster than the market that grew 8 per cent.
Clotilde Delbos, CFO, said the performance in Europe was “stronger than expected”.

The strength of the Russian ruble and Brazilian real offset the negative impact from the fall of the British pound on revenues, the company said.

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