Renault expects slight decline in car market this year after global sales take a toll in 2019

Sales grew by 1.3 per cent to 1.94 million units in Europe but fell in China, Africa, Middle East, India and the Pacific region

Renault expects a slight decline in the car market in Europe, Russia and China this year after the French carmaker reported a 3.4 per cent fall in global sales in 2019.

Sales grew by 1.3 per cent to 1.94 million units in Europe but fell 17.2 per cent in China. Sales also fell by 19.3 per cent in Africa, Middle East, India and the Pacific region.

In 2019, sales were also down 44.5 per cent in Argentina and -26.5 per cent in Turkey.

Renault has suffered since August 2018 from the closure of the Iranian market where the company sold had around 101,000 vehicles.

The company also expects growth in the Brazilian market and a positive turn in Turkey this year.

Renault aims to target a 70 per cent growth in its electric car sales this year. In 2019 worldwide sales of the group's electric vehicles rose 23.5 per cent to 62,447 vehicles.

What is your sentiment on RNO?

24.97
Bullish
or
Bearish
Vote to see community's results!

Renault has suffered since August 2018 from the closure of the Iranian market where the company sold had around 101,000 vehicles.

French rival PSA reported a 10 per cent fall in 2019 global sales to 3.49 million units, down from a record 3.88 million, earlier this week. The company said this was due to falls in China, the Middle East and Africa.

Renault shares were up 1.86 per cent early this morning.

FURTHER READING: Nissan mulling split from Renault

FURTHER READING: Renault and Nissan deny break-up is coming

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
iPhone Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image