Renault lifts universal car marketplace prospects after major sales revenue

Renault to gain 15.9% growth in third-quarter of sales with increasing revenue of U$ 14.4 in past three months.

Renault- a popular French car manufacturing company on October 24, 2017, declared that they have gained a 15.9 percent increase mainly in third-quarter of their sales. The company has also raised its forecast and prediction for growth in the universal auto market while ensuring that they maintain the firm’s own viewpoint for enhanced revenues and profits in the current year. Thierry Koskas, head of sales at Renault stated in a conference call that growth in sales during the fourth quarter shall probably continue at a speed similar to the speed noticed since the beginning of this year.

Last year, the sales revenue was 10.55 billion euros during the same three months. Analysts that were questioned by Inqiry Financial for reporters had delivered a median forecast and predication for sales in the third quarter. The prediction ranged up to 12.1 billion euros. Slashing out the sales of Avtovaz- Lada manufactures, incorporated into Renaults since the end of last year, collective revenue has increased by 9.8 percent. According to the midterm plan launched earlier in October, Renault is focusing to generate approximately 70 billion euros in annual sales until 2022, drawing on augmented sharing of automobile technologies with Nissan- Renault’s affiliate from Japan. Renault hold approximately 43.4 percent stake in Nissan.

The third quarter deliveries by Renault has clearly outperformed many of its chief and prominent marketplaces, including Europe- where the market share of this French group has increased by 0.3 percent up to 9.9 percent at present. Renault mentioned that it was expecting the French market to enlarge by approximately 4 percent this year, compared to the forecast done previously where the growth was estimated to nearly 2 percent in France. The company had also upgraded its predictions for growth and profits in Brazil and Russia.

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