Q1 revenue up 28% for Renault
For the three-month period, revenue grew to €9,072 million compared with €7,068 million in first-quarter 2009.
The announcement comes as the French carmaker said it's on track to achieve its 2010 objective to generate positive free cash flow and increase market share despite the difficulties in the marketplace.
In Europe, group sales (passenger car and LCV) grew by 37.7% (including a 32.7% rise in France) in a market that rose by 9.7%. Market share increased by 2.2pts (1.6pts for the Renault brand and 0.6pts for Dacia) to a total of 10.8%.
Notable results were seen in Renault's three largest European markets, with market penetration (passenger car and LCV) rising 3.8pts in France to 29.1%, 3.1pts in Italy to 7.5%, and 0.6pts in Germany to 5.3%. The manufacturer attributed these results primarily to strong take-up of the Mégane family.
Outside Europe, sales were up 20.9%. The Asia/Africa Region reported very strong growth in sales volumes of 40.8%. In South Korea, the group's third-largest market, volumes surged 75.9% to 41,515 units.
Renault reported a good result in the Americas Region as well, with a 27.4% hike in volumes and 5.03% market share, boosted by the Sandero Stepway and Clio.
Overall, the group gained market share in 13 of its top 15 global markets that together account for 86% of total sales.
Commenting on the outlook for 2010, Renault said it expects the economic environment to remain difficult, with a European market that could decline by 10% on the total industry volume of 2009. However, it said that it's on track to meet its objectives for 2010: to generate positive free cash flow and increase market share.For more of the latest industry news, click here.