Renault group revenues declined 11.3% to EUR8.1bn year on year in the third quarter of 2009, a shallower decline than than in the first (-30.8%) and second quarters (-16.9%) but the automaker said orders in the third quarter continued the positive trend of previous quarters and fourth quarter production was expected to be more than 50% higher than the same period of 2008.
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The group reported a 0.8% increase in world car and light commercial vehicle sales for the quarter.
Automobile revenues were down 11.2% to EUR7.67bn in the third quarter.
In scrappage scheme-boosted Europe, the group increased car and LCV sales 9.1% in a market that grew 1.3%.
Reduced volume in the [southern] Americas, Euromed and Eurasia regions was heightened by currency effects, particularly with the Korean won, Argentine peso and Russian ruble. Asia-Africa saw the best performance of the quarter, with sales up 7.3% as a result of the new SM3 launch in a South Korean market buoyed by scrappage incentives.
“Renault is on track to meet its objective for 2009: to generate positive free cash flow. It is also forecasting increased market share in Europe,” the automaker said in a statement.
