Paris (AFP)
The Renault automotive group reported Friday sales down 8.2% in the third quarter of 2020, to 10.4 billion euros, due to a late recovery in sales and rates of negative exchange rates.
In the first half of the year, Renault sales plunged 34.3% due to the health crisis.
At constant exchange rates and perimeter, the decline in the third quarter was however only 3.2%, after a fall of 32.9% over the first six months of the year.
The group sold 806,320 vehicles in the last three months, a drop of 6.1% compared to the same period in 2019.
However, the month of September 2020 shows a positive dynamic, according to Renault, "particularly marked in Europe" where the group is the leader in the electric market.
"Our performance in electricity, the very good reception of our hybrid E-Tech models, our liquidity reserves and the positive dynamics of our teams make us confident in the group's ability to initiate its recovery", underlines in a press release. Group Managing Director, Luca de Meo.
The order book, up 60% at September 30, is at "a high level" while stocks are at a "low point".
Outside Europe, the group's sales were down 9%, mainly affected by the drop in sales in Brazil (-50.9%).
In Russia, Groupe Renault's second-largest market, Lada is up 4.5%.
Mr De Meo is due to present a new strategic plan between the end of the year and January 2021, which will partly be based on a new brand dedicated to mobility solutions.
By 2025, the Italian leader had said this summer that he hoped Renault could "reap the first benefits from the recovery of the markets", while the diamond group, hit hard by the crisis, suffered a colossal loss of 7.3 billion euros in the first half of the year and announced the elimination of 15,000 jobs worldwide.
© 2020 AFP