Renault FY20 Sales Down, Electric Vehicle Sales Climb; Reports Higher Orders; Stock Up

French automaker Renault SA (RNSDY.PK,RNSDF.PK,RNT.L) reported Tuesday that 2020 worldwide sales totaled 2.95 million vehicles, down 21.3 percent, amid Covid-19 pandemic. During this time, global automobile market declined 14.2 percent.

The decline in group sales was mainly due to its high exposure in countries which were strictly confined and suspended their sales activities in the second quarter, as well as a slowdown in the fourth quarter, particularly in France. The company has also pursued a sales policy focusing on profitability over sales volumes.

On the European electric market, Renault brand doubled its sales to 115,888 electric vehicles. ZOE was the best-selling electric car with 114 percent growth at 100,657 units.

In Europe, Group sales totaled 1.44 million units, down 25.8 percent. The Renault brand slightly increased its market share to 7.7 percent, up 0.1 point.

Outside Europe, Group sales were down 16.5 percent, mainly due to a 45 percent decline in sales in Brazil as a result of the reorientation towards the most profitable channels.

Looking ahead, the company noted that in 2021, it will continue its profit-oriented sales policy with the full implementation of the Renaulution strategic plan presented on January 14, 2021.

Denis le Vot, Senior Vice President Sales of Groupe Renault, said, "We are starting 2021 with a higher level of orders than in 2019, a lower level of inventory and a higher price positioning across the entire range."

In Paris, Renault shares were trading at 36.84 euros, up 1.6 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Consumer Product Safety Commission or CPSC announced recall of thousands of children's Robes made in China and sold exclusively on Amazon.com by various companies. The recalled robes fail to meet the federal flammability standards for children's sleepwear, posing a risk of burn injuries to children. Further, citing the same concerns, Paper Cape children's pajamas manufactured in Peru ... Health services company Cigna Corp. reported Friday higher profit in its fourth quarter reflecting growth in both Evernorth and Cigna Healthcare segments. Adjusted earnings and topline beat market estimates. Looking ahead for fiscal 2023, the company projects adjusted earnings and adjusted revenues to be higher than last year, but below market view. French drug major Sanofi SA reported Friday higher profit in its fourth quarter with strong revenue growth mainly with strong sales of Dupixent. Looking ahead for fiscal 2023, the company projects higher business earnings, but the expected growth is slower than recorded in fiscal 2022. Sanofi shares were losing around 4 percent in the morning trading in Paris as well as in pre-market activity...
Follow RTT