Renault said, given the current level of performance of the group which is above initial expectations, it has upgraded its financial outlook for full year 2023.
It now expects group operating margin between 7% and 8% (versus superior or equal to 6% previously) and automotive operational free cash flow superior or equal to EUR2.5bn (versus superior or equal to EUR2bn previously).
“This improvement is mainly driven by the quality of the sales mix thanks to the success of our new launches and to our commercial policy focused on value,” the automaker said in a statement.
First half expectations are operating margin superior to 7% and automotive operational free cash flow around EUR1.5bn (including EUR600m of Mobilize Financial Services dividends).
First half results are out on 27 July.
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