Renault Group has reported revenue for 2024 Q1 at €11,707 million, up 1.8% compared to 2023 Q1. At constant exchange rates, Renault Group revenue was up 5.9%.

In what it described as a transitional first quarter ahead of the commercial launches of 10 models between now and the end of 2024, Renault Group grew its sales 365,356 units, up 3.1% versus 2023 Q1.

Renault said the C-segment and above represented 37% of sales with a range of four vehicles: Arkana, Megane E‑TECH electric, Austral and Espace E-TECH Hybrid. On these models, high trim versions represented a large majority of sales, the company said.

Electrified passenger car sales continued to increase to reach 48% mix of sales, up 8 percentage points versus 2023 Q1. Renault said this was down to the success of E-TECH Hybrid engines.

Electric passenger cars represented 10.5% mix of sales and the company said their sales will continue to grow with the upcoming launches of Scenic E-TECH electric, Renault 5 E-TECH electric and Renault 4 E-TECH electric.

Renault said 2024 promises to be a ‘historical year for the Renault brand’, with 7 new launches:

• 2 new all-electric vehicles with Scenic E-TECH electric and Renault 5 E-TECH electric.
• 2 new hybrid vehicles in Europe: Rafale E-TECH and Symbioz.
• New Renault Master (ICE and all-electric versions).
• 2 new vehicles in markets outside Europe: Kardian and a Renault Korea Motors vehicle (D-SUV). 

In addition, the company said the Renault brand will benefit from the facelift of Captur and the launch of Renault Duster for international markets.

Dacia recorded Q1 sales up 3.6% in Europe, with 153,439 units. Sandero became the most selling car, all sales channels combined in Europe in the first quarter, with 72,995 units sold (+20.2% versus 2023 Q1).

There is also a new Dacia Duster - which has recorded more than 18,000 orders during its first 30 days on the market - before its arrival in the dealership network early summer.

2024 outlook

Renault Group confirmed its 2024 financial outlook with:

• a Group operating margin superior or equal to 7.5%
• a free cash flow superior or equal to €2.5 billion

It said upcoming product offensive and acceleration of cost reduction will remain the drivers of operational performance and strong cash generation in 2024:

• 2024 will see 10 new vehicles launches (7 new vehicles under Renault brand, 2 vehicles under Dacia brand and 1 vehicle under Alpine brand).
• Faster cost reductions and time-to-market for both thermal and electric vehicles, already engaged with a continuous trajectory.