Renault Group: organic decline of 0.7% in the first quarter of 2022

Posted 22 April, 2022

Renault Group, in a context disrupted by the semiconductor crisis and the conflict in Ukraine, sold 552,000 vehicles in the 1st quarter of 2022, down 17.1%. The group's turnover amounted to 9.7 billion euros, down 2.7%. At constant exchange rates and perimeter, the decrease is 0.7%. The turnover of AVTOVAZ and Renault Russia was 0.9 billion euros, down 15.7%, the activity having been strongly impacted from February 24 by the conflict in Ukraine. AVTOVAZ's contribution was €527 million, down 23.1%.

Renault Russia's sales amounted to 367 million euros, down just 2.1% due to destocking operations and price increases.

Excluding the activities of AVTOVAZ and Renault Russia, the group's turnover was 8.9 billion euros, down 1.1% and Automotive turnover was 8. 1 billion euros, down 1.0%.

In terms of outlook, the market environment remains impacted by the semiconductor crisis. The group confirms a total loss of 2022 production estimated at 300,000 vehicles, mainly in the 1st half.

In the context of high-cost inflation, the group is pursuing its commercial policy based on value and strengthening its competitiveness with additional cost reduction programs.

As indicated during the presentation of its annual results on February 18, 2022, the group confirms that it is ahead of its medium-term Renaulution objectives and is accelerating the implementation of its strategic plan.

Renault Group will present, during a Capital Market Day in the fall of 2022, an update of its financial objectives and its strategy, positioning it as a competitive, technological and responsible benchmark player.

 

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