159 billion yuan! Renault’s first-half profit reaches a historic high, doubling year-on-year growth
Renault's first-half profit reaches a historic high of 159 billion yuan, doubling year-on-year growth
【Phoneauto News】On the evening of July 27th, Renault announced its financial report for the first half of 2023 on its official website. Renault stated that the company’s profit for the first half of the year reached a record high of 2 billion euros (approximately 15.9 billion yuan), more than double the same period last year.
Renault stated that the group’s total revenue for the first half of this year was 26.8 billion euros (approximately 213.2 billion yuan), a growth of 27.3% compared to the first half of 2022. In terms of profit, the company achieved a profit of 2 billion euros (15.9 billion yuan) in the first half of this year, more than double the same period in 2022, with a profit margin of 7.6%. The operating profit margin of the automotive business was 6.2%, an increase of 4.1 percentage points compared to the first half of 2022. The profit reached 1.5 billion euros, more than double the same period in 2022.
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In terms of sales, Renault’s global sales reached 1,134,000 vehicles in the first half of the year, a 13% increase compared to the first half of 2022. Sales in the European market grew by 24%, while the market average increase was 17%. Renault brand’s global sales exceeded 772,000 vehicles, an increase of about 12% compared to the first half of 2022. In Europe, Renault brand’s sales grew by 21%, exceeding 500,000 vehicles, ranking second in the sales ranking and once again becoming the best-selling brand in France.
Dacia’s global sales grew by 24%, surpassing 345,000 vehicles. In Europe, thanks to the success of its product lineup, Dacia’s sales increased by 30% to 301,000 units. Dacia Sandero remains the best-selling retail model in Europe. On the European retail sales ranking, Dacia rose to second place. Alpine’s sales continued to grow, reaching nearly 1,900 vehicles, a 9% increase compared to the first half of 2022.
Luca de Meo, CEO of Renault Group, said, “In the first half of 2023, Renault Group achieved record-breaking performance in terms of profitability and cash flow. These achievements are attributed to our continuous efforts over the past three years to reduce costs, maintain a value-centric approach, and combine it with an unprecedented product offensive. Our fundamentals have never been as solid as they are now.”
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