Renault Group Q3 results go against the current

With a turnover of €10.7 billion (+1.8%), Renault Group is swimming against the tide in automotive land. Thanks to many new models, sales decreased less than the market average. That’s why it maintains its forecast for 2024, with an operational margin of 7.5% and a free cash flow of over € 2.5 billion.

“Our third-quarter results are the proof that our unseen product offensive is working,” says Thierry Piéton, FCO of the Renault Group. “This year, we will have launched ten new models, and this trend will continue in the next year. In 2025, we will launch another seven newcomers.”

“With a portfolio of ICE cars, hybrids, and BEVs, we prove that we can adapt to the circumstances and the pace of the energy transition. This portfolio remains one of the strengths of our group, along with the cost reduction measures. It makes the group agile enough to work on the next chapter,” he adds.

Electric dip

At the moment, pure electric car sales are dipping at 7.6% of total sales in Q3, with the disappearance of Twingo, Zoe, and the first edition of Dacia Spring. But the relief of the guard is coming: the new R5 will arrive on the market, and the Renault 4 and Alpine A290 will follow.

Despite big boss Luca de Meo’s criticism of the EU CO2 targets as president of ACEA, his FCO Thierry Piéton insists that Renault will respect the targets for 2025 and won’t be obliged to pay fines for exceeding them.

Piéton insists that Renault Group won’t be obliged to sell fewer ICE cars to reach this target because of its success with hybrids and the electric cars that will arrive. Electrified vehicles represented 30.2% of all European sales (+3.4% compared to last year).

There’s also Dacia and Alpine

The Renault brand is number three in Europe, number one in France, and number one in the European LCV market. The B-segment Clio is still Europe’s second most popular car across all distribution channels.

Nevertheless, we can’t forget that Dacia, the group’s ‘low-cost’ brand, had already saved its big sister when times were less rosy. Dacia is the ninth brand in Europe and occupies third place when one only considers sales to individual buyers. The Dacia Sandero beats his Clio sister as the most popular car in Europe.

Recently, Dacia also launched the new Duster and announced a new top-of-the-range model in its portfolio. With the Bigster, Dacia enters the lucrative C-segment SUV class with a very competitive offer.

And then there is Alpine, eagerly waiting for its second model on the market, the A290, a sportive derivative of the long-awaited Renault 5, and announcing its third model arrival soon, the A390 five-seater sports coupe.

In the first 9 months of this year, Alpine registered 3,333 A110 berlinette sales, 16.5% more than last year. According to the first results on the market, the A290 attracts a promising group of buyers and is ready to fight the battle with sporty electric cars like the new Mini Aceman and consorts.