Renault has revised down its full-year 2019 guidance with Group revenue forecast to decline between 3% and 4%.
“Due to an economic environment less favourable than expected and in a regulatory context requiring ever-increasing costs, Groupe Renault revises its guidance for FY2019,” said a Renault statement.
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“Published Group revenues should decline between -3% and -4% (previous guidance: close to last year level at constant exchange rates and perimeter).
“Group operating margin should be around 5% (previous guidance: around 6%).”
Groupe Renault’s third quarter 2019 revenues stood at EUR11.3bn (US$12.6bn) versus EUR11.5bn in Q3, 2018, down 1.6%.
At constant exchange rates and perimeter, the decline would have been -1.4%.
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By GlobalDataAutomotive, excluding Avtovaz revenues, amounted to EUR9.7bn in the third quarter, down 3.9% versus Q3, 2018 (-3.2% at constant exchange rates and perimeter).
The new management team is reassessing the ‘Drive the Future’ mid-term plan targets.
Revenue details will be published as planned on 25 October.
