Renault has said that its Q1 revenue fell 4.8% to EUR12.5bn as global deliveries declined by 5.6%, including the adverse impact of the company's withdrawal from Iran last year.

Group sales of vehicles in the first quarter totalled 908,348 units, 5.6% down on last year. Sales in Europe (including France) were 502,977 units, 2% ahead of the same quarter last year. The problem for Renault was sales in other parts of the world. Iran hit sales in the Middle East, Africa and India region which were down 30.5% at 83,811 units. Asia-Pacific sales in the quarter were off 18.1% on last year at 65,156 units.

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In Iran, the application of US sanctions led to the cessation of sales for the group since August 2018. Rival PSA was similarly impacted by the end of sales in Iran and the unfavourable comparison with last year.

PSA Q1 revenue down 1.1%

In Europe, Renault said that group sales increased by 2.0% in a market down 2.4%, thanks to the strong performance of Clio, New Duster, Zoe and LCVs.

In Brazil, Groupe Renault sales were up 29.4% with a record market share at 8.9%. Kwid confirmed its success in the region, Renault said.

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In Russia, the market and group's sales were almost flat versus 2018 with a market share at 28.5%. Lada Granta is the best-seller in this market.

In Argentina and Turkey, Renault said the group continues to gain market share with sales down 47% and 42% respectively, in markets down 49% and 44%.

Renault said new product launches are in preparation, with the upcoming to be launched New Clio in Europe, Arkana in Russia, Triber in India and City K-ZE in China.

2019 guidance unchanged

In 2019, Renault said the global market is expected to decrease about 1.6%. The European market is expected to be flat 'providing that there is no hard Brexit', Renault said.

Outside Europe, the Russian market is expected to grow about 3% (versus above 3% previously) and the Brazilian market should be up 10%, Renault said.

Groupe Renault confirmed its guidance for the year:   

  • Increase group revenues (at constant exchange rates)
  • Achieve group operating margin around 6.0%
  • Generate a positive Automotive operational free cash flow