Reuters
Published Jul 16, 2021 03:08AM ET
Updated Jul 16, 2021 07:36AM ET
PARIS (Reuters) -French carmaker Renault (PA:RENA) on Friday reported a 18.7% increase in first-half vehicle sales though remained below pre-COVID-19 crisis levels.
The group like global peers is pushing into electric vehicles under Chief Executive Luca de Meo while trimming costs, including by focusing on fewer but more profitable ranges.
It said this strategy was starting to bear fruit amid a recovery in demand, although its latest figures reflect sales by volume only.
"In an environment still disrupted by the COVID-19 pandemic, Renault Group sold 1,422,600 vehicles in the first half of 2021, up 18.7% on 2020, but down 24.2% on the first half of 2019," the group said in a statement.
Vehicle sales across all its brands in 2020 fell 21.3%.
Fabrice Cambolive, head of sales for the Renault brand, said models like hybrid versions of the Clio were selling well, allowing the group to edge upwards in terms of price.
Sales of the Renault brand were up 18.5%, at 901,500 units, during the first six months of the year.
Cambolive said it was hard to evaluate the impact of a global semiconductor shortage in terms of vehicle sales so far this year.
"We're able to play with stocks, it's hard to see (the effect) on sales," he told journalists.
The group's Dacia brand increased sales by 24.5%, at 262,814 units, while Lada sold 200,219 cars, up 51%.
Renault is due to report full first-half results on July 30.
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.