'Buoyant' Europe helps Renault drive 9.4% gain in sales to 9.3 bn euros

29th October 2015, Comments 0 comments

A recovery in European markets helped French automaker Renault beat analyst expectations Thursday with a 9.4 percent increase in third quarter sales to 9.3 billion euros ($10.2 billion).

On a unit basis, the group's sales rose by 1.2 percent to 620,525 units, the company said.

"In Europe, buoyant markets and the success of its new products continued benefiting the firm," while elsewhere it managed to maintain or expand its market share.

Europe's car market has finally started to recover after years of falling sales, helping its automakers weather a slowdown in emerging markets that have been the source of sales growth.

Renault, besides its own brands that include Dacia and Renault Samsung Motors, also assembles in its factories vehicles for its partners Nissan and Daimler.

Over the first nine months of the year Renault's revenues increased 11.2 percent from the same period last year to 31.5 billion euros.

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© 2015 AFP

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