Renault Group reported Q1 sales of EUR10,431m in the first quarter, up 15% year on year, after shifting 692,607 units, 5.8% more than a year ago, on the back of growth in markets outside Europe, particularly Brazil, Turkey and Russia.
The company did not disclose any profit information.
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Group sales outside Europe climbed 26.6% to 259,308 units. Market share was up in the Eurasia and Americas Regions.
In Europe, in a passenger car and light commercial vehicle market that fell 1.0%, group sales were down 3.7%, owing mainly to supply constraints in the first quarter. In France, these constraints were compounded by the last deliveries made under the scrappage bonus, leading to a 0.5% drop in sales in a market that rose by 8.8%.
In light commercials, Renault brand sales rose 12% in a recovering market (8.6%).
In the Eurasia region, sales rose 88.2% in markets that grew 66.4%, thanks to new products, in particular the Sandero. The group had a 6.0% share of the Russian market, up 0.5 point.
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By GlobalDataIn Euromed, where markets grew 37.0%, sales were up 33.0% amid contrasting country performances. The group did well in Turkey, reporting a 120% increase in sales and raising its market share by 3.3 points owing in particular to the success of Mégane and Fluence. Sales in Romania, meanwhile, fell 27.1% in a market that was down 15.0%.
In the Americas (excluding the US and Canada where the group does not compete), sales hit records for both volume and market share. Sales climbed 35.3% in markets that rose 12.6%, while market share advanced by one point compared with Q1 2010 to 6.0%. Brazil was the group’s third largest market in the first quarter of 2011.
In Asia-Africa, group sales declined 2.3% in markets that were up 3.5%. Renault Samsung Motors in Korea had to contend with an unfavorable comparison basis and a major offensive by competitors.
Renault said group results for Q1 2011 were ahead of plan compared to guidance given at the start of the year.
“With the supply of certain parts already under strain in the first quarter, the tsunami in Japan has increased the pressure on the global automotive industry’s logistics chain and could result in slower production in the coming months,” it noted.
“At this stage, the group’s targets for full-year 2011 are unaffected by the expected temporary impact of this slowdown. In 2011, Renault is expecting to post higher sales volumes and revenues than in 2010, with global industry volumes lower than initial expectations.”
