Renault yesterday reported a 5.3 percent rise in revenues in first-quarter 2002. After adjustment for the sale of Renault#;s stake in bus maker Irisbus to Fiat commercial vehicles division Iveco, the Q1 2002 increase over Q1 2001 was 2.4 percent.
The automobile division reported first-quarter revenues of 8,833 million euros, up 5.1 percent on a consistent basis and 4.4 percent compared with the reported figure for first-quarter 2001. The division accounted for 95.1 percent of group revenues.
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In a statement, Renault said that revenue growth in revenues came primarily from strong sales in Europe and an increase in worldwide sales, especially at its South Korean operation Renault Samsung Motors.
The key factors compared with first-quarter 2001 were a sharp rise in Laguna sales and a further increase in the percentage of sales of models with diesel engines.
However, the devaluation of the Argentine peso had a negative impact.
In volume terms, Renault sold 625,065 vehicles worldwide in first-quarter 2002 compared with 597,123 in Q1 2001 – 538,131 passenger cars and 86,934 light commercial vehicles, an increase of 4.7 percent.
The group benefited in particular from a rise in unit sales at Renault Samsung Motors to 24,746 units, compared with 12,074 in first-quarter 2001, and a 3.2 percent increase in sales in Western Europe, where the market contracted 4.2 percent.
But the continuing steep downtrend in the markets in Turkey and Argentina continued to undermine group sales.
First-quarter revenues of the finance division rose 8.7 percent year-on-year to 452 million euros on a consistent basis, accounting for 4.9 percent of group revenues.
Compared with the reported figure for the same period in 2001, the increase was 3.2 percent.
In first-quarter 2001, revenues generated by other activities amounted to 162 million euros. This figure does not take account of the contribution from the joint Renault-Iveco subsidiary Irisbus, which was deconsolidated following the sale of Renault’s holding in Irisbus to Iveco on January 2, 2002.
