Renault drives up third quarter sales

28th October 2004, Comments 0 comments

PARIS, Oct 27 (AFP) - French car maker Renault posted Wednesday an 8.9 percent increase in third quarter sales, which was stronger than analysts had expected.

PARIS, Oct 27 (AFP) - French car maker Renault posted Wednesday an 8.9 percent increase in third quarter sales, which was stronger than analysts had expected.

The company reported third-quarter sales of EUR 9.487 billion (USD 12.059 billion) compared with the 8.712 billion recorded in the same period last year.

The increase over the period was 8.4 percent on a proforma basis.

The sales were well ahead of the EUR 8.985-9.310 billion forecast range expected by analysts.

"The rise in automobile division revenues was mainly due to the overall increase in group sales, with sales growth on buoyant markets outside Western Europe, and a positive price mix in Europe," the company said.

The company's new Modus model saw nearly 16,000 new car registrations since its launch on September 6, "thereby confirming the enthusiastic reception the model was given at its unveiling," Renault said.

Automobile financing operations generated sales of EUR 539 million, up from the 489 million posted in the third quarter 2003.

Renault said global unit sales rose 4.8 percent in the first nine months to1.867 million vehicles.

In Western Europe, the company said Renault new car registrations rose 0.9 percent in the first nine months, for a market share of 10.7 percent, similar to levels seen in the same period in 2003.

Outside Western Europe, unit sales rose 30.5 percent in the first nine months, with sales in Turkey up 178 percent, and Africa and Middle East sales rose 33 percent.

Unit sales for Renault Samsung Motors were down 30.7 percent in the Korean market, "which continued its downtrend," Renault said.

© AFP

Subject: French News

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