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Sales of Renault brand fall for 4th straight year

PARIS (Reuters) - French carmaker Renault (EPA:RENA) said sales at its flagship brand fell for the fourth consecutive year in 2022 to 1,466,729 units excluding Russia, a 9.4%...
Sales of Renault brand fall for 4th straight year © Reuters. The Renault logo on the Renault Scenic Vision concept-car is seen at its exhibition space, at the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France June 16, 2022. REUTERS/Benoit T
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PARIS (Reuters) - French carmaker Renault (EPA:RENA) said sales at its flagship brand fell for the fourth consecutive year in 2022 to 1,466,729 units excluding Russia, a 9.4% decline from 2021.

The Renault group, which fared worse than most rivals during the COVID-19 crisis and supply chain snags caused mainly by a chip shortage, is in the middle of a turnaround in a drive to boost profits.

In November, it unveiled a major overhaul that will see it separate its activities in five businesses, deepen ties with China's Geely and spin off its electric vehicles unit through a stock market listing this year. It is also in talks with Japanese partner Nissan (OTC:NSANY) to reboot their long-standing alliance.

Renault is betting on higher-margin and electric cars to drive growth. It said that in 2022 the Renault brand, which accounts for two-thirds of group sales, was the third European brand for electrified vehicle sales with 228,000 units sold, an increase of 12% from 2021.

Its global market share was 4%, shrinking 0.5 percentage points from a year earlier.

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08-02-2023 01:39:12 (UTC+7)

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    EUR/USD 1.0705 ↑ Sell  
    GBP/USD 1.2004 ↑ Sell  
    USD/JPY 131.18 Buy  
    AUD/USD 0.6919 ↑ Sell  
    USD/CAD 1.3442 ↑ Buy  
    EUR/JPY 140.43 ↑ Sell  
    EUR/CHF 0.9891 ↑ Buy  
    Gold 1,881.75 ↑ Sell  
    Silver 22.142 ↑ Sell  
    Copper 4.0425 ↑ Sell  
    Crude Oil WTI 76.47 ↑ Sell  
    Brent Oil 83.12 ↑ Sell  
    Natural Gas 2.550 Neutral  
    US Coffee C 177.10 Neutral  
    Euro Stoxx 50 4,209.31 ↑ Buy  
    S&P 500 4,096.08 ↑ Sell  
    DAX 15,320.88 ↑ Buy  
    FTSE 100 7,864.71 ↑ Buy  
    Hang Seng 21,298.70 ↑ Sell  
    Small Cap 2000 1,938.40 ↑ Sell  
    IBEX 35 9,172.40 ↑ Buy  
    BASF 52.950 Neutral  
    Bayer 58.95 ↑ Sell  
    Allianz 219.40 ↑ Buy  
    Adidas 153.08 Neutral  
    Lufthansa 9.653 ↑ Buy  
    Siemens AG 140.86 Buy  
    Deutsche Bank AG 11.530 ↑ Buy  
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