• 2023 9-months:
  • Group income at €37.4 billion, +21.1% vs 2022 9m¹, +25.3% at fixed change charges²
  • Auto income at €34.2 billion, +20.1% vs 2022 9m¹, +24.2% at fixed change charges²
  • Group registrations up 10.9% globally and 21.3% in Europe
• 2023 Q3:
  • Group income at €10.5 billion, +7.6% vs 2022 Q3¹, +13.8% at fixed change charges²
  • Auto income at €9.4 billion, +5.0% vs 2022 Q3¹, +11.3% at fixed change charges²
  • Group registrations up 6.1% globally and 15.3% in Europe
  • Continued sturdy value impact at 7.5 factors over the quarter
• Europe orderbook stays very wholesome at 2.5 months of ahead gross sales on the finish of September
• 2023 steerage confirmed:
  • a Group working margin between 7% and eight%
  • a free money movement superior or equal to €2.5 billion

Renault Group expects a Group working margin in H2 above H1, which was at 7.6%.

“Renault Group achieved once more a powerful efficiency within the third quarter with complete income growing by 13.8% at fixed change charges. Now we have entered the final quarter with confidence and ensure the development of our profitability within the second half of the yr and past, pushed by our product offensive, together with the advantages of our value discount program and our disciplined industrial coverage centered on worth.

Within the meantime, we’re transferring quick ahead on all our Revolution initiatives and this quarter was very lively. We formally launched Horse and signed the JV settlement with Geely. Ampere carve-out will happen in November and we are going to current intimately its technique throughout a Capital Markets Day on November 15^th. We additionally introduced the Flexis Mission along with Volvo Group and CMA CGM, a real recreation changer to sort out the challenges of electrifying LCVs within the city logistics sector. We’re progressively constructing our next-gen automotive firm.

Lastly, following the signature of the Alliance definitive agreements in July, we affirm that the completion of the transaction is predicted by the tip of the yr, as deliberate. This may create extra worth by way of widespread operational initiatives and provides Renault Group the chance to optimally reallocate a part of its capital.”  mentioned Thierry Piéton, Chief Monetary Officer of Renault Group.

Industrial outcomes: Third quarter highlights

Worldwide Group’s gross sales reached 511,000 autos in 2023 Q3, up 6.1% in comparison with 2022 Q3. In Europe, gross sales had been up 15.3%.

• Renault model international gross sales reached practically 357,000 items, up 11.0% versus 2022 Q3. In Europe, Renault model elevated its gross sales by 24.8% to 223,000 items.
• Within the first 9 months of 2023, Renault model solidifies its place because the second best-selling automotive model in Europe, up 22.2% vs. 2022 and reaffirms its management within the French market each on the PC market and on the LCV market.
• Renault continues to outperform on the LCV market with 21.0% development worldwide on the 9 months and particularly in Europe up 25.5%. Renault is the European chief on the industrial vans market.
• Dacia recorded 494,000 items worldwide up 16.7% over the primary 9 months 2023. In 2023 Q3, Dacia offered 148,000 items globally, up 2.4% versus 2022 Q3.
• The 4 flagships of the Dacia posted elevated gross sales over the primary 9 months 2023: Spring +40.6%, Sandero +18.3%, Duster +4.1% and Jogger +76.1%.
• Within the retail channel, Dacia maintains its 2^nd place on the European podium³ year-to-date.
• Alpine recorded over 1,000 gross sales in 2023 Q3, up 31.0% versus 2022 Q3.

Continued excessive value impact at 7.5 factors over the quarter:

• Give attention to retail with 64% of Group gross sales on retail channel within the Group’s 5 essential international locations in Europe⁴.
• Renault model passenger vehicles gross sales in C & above segments in Europe elevated by 27% in 2023 Q3 versus 2022 Q3.
• Renault Megane E-TECH Electrical recorded 11,500 gross sales in complete in 2023 Q3. Within the first 9 months, 70% of gross sales had been on excessive trim variations and 80% on probably the most highly effective engine. It represented 2.2% of the BEV market in Europe.
• Renault Austral recorded near 21,000 gross sales in 2023 Q3. Within the first 9 months, 65% of gross sales had been hybrid and 60% of excessive trim variations.
• Renault Espace, launched in June 2023, has broadened the provide and recorded practically 2,400 gross sales. It would progressively hit new markets.

Renault Group pursues its electrification offensive:

• Renault model recorded a 22% quantity enhance in electrified passenger⁵ automobile gross sales in 2023 Q3 versus 2022 Q3, accounting for 43% of the model’s passenger automobile gross sales in Europe. Full electrical autos represented 11% of the model’s passenger automobile gross sales in Europe in 2023 Q3.
• This momentum will proceed to be supported by Espace E‑Tech Hybrid and the arrival of New Clio with a hybrid engine on the core of its vary. From 2024 onwards, Renault’s electrical line‑up will additional speed up the dynamic, with Scenic E-Tech and Renault 5 specifically.
• Dacia Jogger Hybrid 140 represents 1 out of 4 of Jogger orders. Jogger is a key product to draw new buyer profiles and its hybrid model helps Dacia easy electrification technique.
• Dacia Spring (100% electrical) recorded near 16,000 gross sales in Europe in 2023 Q3. It was once more on the rostrum of retail electrical autos in Europe being probably the most reasonably priced BEV in the marketplace.

Third quarter income

Group income for 2023 Q3 amounted to €10.5 billion, up 7.6% in comparison with 2022 Q3.
At fixed change charges⁶, Group income was up 13.8%.

Automotive income reached €9.4 billion, up 5.0% in comparison with 2022 Q3, or +11.3% at fixed change charges. The destructive change charges impact of -6.3 factors is usually linked to the Argentinean peso devaluation and to a lesser extent to the Turkish lira.

The remainder of the variation is defined by the next:

• A quantity impact of -1.6 factors. The 6% development in registrations was offset by larger destocking within the impartial sellers’ community in 2023 Q3 in comparison with 2022 Q3 and coming again to regular seasonal evolutions.
• A geographic mixture of +3.1 factors benefiting from the next mixture of European gross sales.
• A nonetheless sturdy value impact of +7.5 factors, reflecting the continuation of the industrial coverage centered on worth, value will increase to offset foreign money impact together with an optimization of business reductions.
• A muted product combine impact (-0,4 factors), primarily ensuing from a really sturdy finish of lifetime of Clio section 1 with a decrease income per unit than Renault Group’s common and a decrease stage of Megane E-tech invoices this quarter consistent with destocking, which offset the constructive impression of Austral and Espace.
• A constructive impression of gross sales to companions of +2.9 factors, primarily supported by a dynamic LCV market driving gross sales to Nissan, Renault Vans and Mercedes-Benz in addition to from the manufacturing of the ASX for Mitsubishi Motors.
• An “Different” impact of -0.2 factors. The lower within the contribution of gross sales from the Renault Retail Group community following the disposals of branches was partially offset by the efficiency of components and providers.

Mobility Providers contributed €11 million to 2023 Q3 income in comparison with €9 million in 2022 Q3.

Mobilize Monetary Providers posted income of €1,102 million in 2023 Q3, up 36.4% in comparison with 2022 Q3 on account of larger rates of interest and to the rise of latest contracts coupled with larger common quantity financed per unit.

Common performing belongings (€52.1 billion) elevated by 15.6% in comparison with 2022 Q3. That is supported by car restocking within the dealerships and by a 15.9% enhance in new financing for the retail enterprise.

As at September 30, 2023, complete inventories (together with the impartial community) decreased to 542,000 autos with:

• Group inventories at 226,000 autos
• Impartial sellers’ inventories at 316,000 autos

The lower in comparison with 569,000 items on the finish of June 2023 is consistent with the target of being under 500,000 autos on the finish of the yr.

The extent of inventories is consistent with the orderbook which stays at 2.5 months of ahead gross sales on the finish of September.

2023 FY monetary outlook

Renault Group confirms its 2023 FY monetary outlook with:

• a Group working margin between 7% and eight%
• a free money movement superior or equal to €2.5 billion

Renault Group expects a Group working margin in H2 above H1, which was at 7.6%.