Blog: Dave LeggettRenault results

Dave Leggett | 8 February 2005

Looks like Renault has issued some nice looking financial results this morning - 2004 net income up 43% over 2003 at €3.5 billion. Nice high for Louis Schweitzer to go out on. They must be doing something right over there. Rob Golding is working on an analysis piece for us this morning.

At first glance, it looks like the company did particularly well outside of western Europe, with Turkish sales strongly up and the Mercosur region much improved. Eastern Europe (including Russia) looked pretty good too.

While, according to JATO data, Renault's western European passenger vehicle sales - in units - were down in 2004 (at 1.51 million units), there may well be something in Renault's claims that margins were better on model mix, as much of the volume drop was on the relatively low-margin and soon to be replaced Clio. Megane range sales were strongly up as new variants hit the market and LCV sales were highlighted by Renault as a product mix positive. Mind you, the current Laguna has not been a good seller in Europe at all. And Vel Satis? Let's not go there (although maybe there are brand benefits from having something exotic like that in the line-up, even if it is a slow seller?). But bottom lines are what, ultimately, count.


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