Renault Revenue Gains Despite Bad-Weather Impact for Dacia
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Renault SA’s revenue rose during the first-quarter with growth in financial services offsetting a drop in registrations for the Dacia brand.Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Renault SA’s revenue rose during the first-quarter with growth in financial services offsetting a drop in registrations for the Dacia brand. Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.Sales were higher at €12.5 billion ($14.6 billion), Renault said Thursday, ahead of analyst estimates polled by Bloomberg. The group reaffirmed its full-year target for an operating margin of around 5.5%, pointing to a strong order book and a jump in electric vehicle sales. The manufacturer suffered from a 3.3% drop in registrations in the first-quarter after logistics issues and bad weather in the Strait of Gibraltar held back the Dacia brand especially. Aggressive pricing by rivals such as Stellantis NV also weighed. Renault on Thursday said the affordable Dacia nameplate started to recover in March and is set to benefit from strong orders.
Chief Executive Officer Francois Provost, who took over in July, spent the first months in the job reversing some of his predecessor Luca de Meo’s moves, partly in response to a slower EV uptake in Europe. This included unwinding the Ampere software and electric-vehicle entity that at one point was slated for a separate listing. Provost also halted some Dacia investments, exited endurance racing and discontinued several mobility services.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.More cost cuts are on the radar for the maker of the R5 and Clio city cars. Like other European automakers, Renault is facing increasing competition in the region from Chinese manufacturers such as BYD Co. On Thursday, the maker of the Alpine A290 said it’s targeting more efficiencies to navigate the potential impact of the Middle East crisis on raw materials, energy, and logistics costs.“We control what we can and we have options,” Chief Financial Officer Duncan Minto said on a conference call with reporters, declining to comment on the specific actions that may be taken.Earlier this month, Renault confirmed plans to ax as much as a fifth of its global engineering workforce over the next two years. This could eliminate more than 1,100 product engineering jobs in France alone, according to the CGT labor union. Another union, the CFE-CGC, says there’s growing concern about a possible closure of a development facility at Villiers Saint-Frédéric. Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.365 Bloor Street East, Toronto, Ontario, M4W 3L4© 2026 Financial Post, a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.You can manage saved articles in your account.and save up to 100 articles!You can manage your saved articles in your account and clicking the X located at the bottom right of the article.