The Group’s international gross sales amounted to 552,000 autos within the 1st quarter of 2022, in a nonetheless very disrupted market context
- The Group’s international gross sales amounted to 552,000 autos within the 1st quarter of 2022, in a nonetheless very disrupted market context.
- Group income was € 9.7 billion for the quarter, down -2.7% (-0.7% at fixed scope and change charges1).
- Renault Group is pursuing its gross sales coverage launched within the 3rd quarter of 2020 and targeted on worth:
- The Group’s order ebook in Europe on the finish of March was at a 15-year excessive and represented 3.9 months of gross sales.
- This business coverage is bolstered by the success of its new merchandise, which allows Renault Group to strengthen its management in hybrid and electrical mobility:
- Renault Arkana recorded greater than 9,000 orders per 30 days within the 1st quarter, 60% on E-TECH model and 60% on the retail channel.
- Renault Megane E-TECH Electrical is experiencing a promising launch with greater than 10,000 orders in two months, 70% on excessive variations.
- Dacia Sandero stays the best-selling automobile to retail prospects in Europe.
- With greater than 9,000 gross sales in Europe and 20,500 orders recorded within the 1st quarter, Dacia Spring 100% electrical is the twond best-selling electrical automobile in France.
- New Jogger guarantees to be a brand new success of the Dacia model with 36,500 orders in 4 months and a 70% combine on excessive variations in Europe.
- The E-TECH line-up (100% electrical, plug-in hybrid and hybrid autos) accounted for 36% of Renault model passenger automotive gross sales in Europe over the quarter, up 13 factors in comparison with the 1st quarter of 2021.
- The Group is strengthening its competitiveness with extra price discount applications.
- Renault Group confirms its monetary outlook as introduced on March 23, 2022.
- Renault Group will current, at a Capital Market Day within the fall of 2022, an replace of its monetary goals and of its technique positioning the Group as a aggressive, tech and sustainable reference participant.
“Worth creation is on the coronary heart of Renault Group’s technique and is mirrored within the exercise of the 1st quarter of 2022. Our gross sales on probably the most worthwhile channels proceed to develop and the Group’s proactive business coverage deployed since mid-2020 is bearing fruit. As well as, the E-TECH line-up is changing into an increasing number of profitable. The order ebook, at a document stage, is strengthening and benefiting from our promising and aggressive line-up of recent autos.
In a market atmosphere severely disrupted by the battle in Ukraine, the semiconductor disaster and inflation, Renault Group is constant its restoration and accelerating the implementation of its technique.” stated Thierry Piéton, Chief Monetary Officer of Renault Group
Industrial outcomes: first quarter highlights
Renault Group, in a context disrupted by the semiconductor disaster and the battle in Ukraine, offered 552,000 autos within the first quarter of 2022, down -17.1% in comparison with the 1st quarter of 2021.
Renault Group is pursuing its gross sales coverage targeted on worth creation, which is resulting in a rise of the combination in probably the most worthwhile channels. Of the 5 essential European international locations (France, Germany, Spain, Italy, United Kingdom), the retail combine represents 69% in comparison with 54% within the 1st quarter of 2021.
The renewal of the Dacia line-up is a hit, pushed specifically by New Sandero, which stays the best-selling automobile to retail prospects in Europe and by Duster which has reached 2 million gross sales since its launch. The 100% electrical Dacia Spring posted greater than 9,000 gross sales in Europe within the 1st quarter and is the twond best-selling electrical automobile in France.
Alpine‘s exercise is pushed, for the reason that starting of the 12 months, by the launch of the brand new vary of its iconic A110 and data a 67% gross sales enhance within the quarter.
The Group’s order ebook in Europe, already at a document stage on the finish of 2021, continues to develop, and reaches 3.9 months of gross sales as of March 31, 2022. New Spring recorded 20,500 orders within the 1st quarter and New Jogger guarantees to be a brand new success for the Dacia model with a powerful order ebook (36,500 orders in 4 months, with a 70% combine on excessive variations in Europe). As for the Megane E-TECH Electrical, it already has greater than 10,000 orders in two months, 70% on excessive variations. The primary deliveries of Megane E-TECH Electrical will probably be in Might for France and in June for the primary European markets.
First quarter income
Within the 1st quarter of 2022, the Group’s income amounted to €9.7 billion, down -2.7% in comparison with final 12 months. At fixed scope and change charges[1], the lower was -0.7%.
AVTOVAZ and Renault Russia’s income was €0.9 billion, down -15.7% over the interval, as exercise was strongly impacted from February, 24th by the battle in Ukraine. AVTOVAZ’s contribution amounted to €527 million, a lower of -23.1%. Renault Russia’s income amounted to €367 million, down solely -2.1% attributable to destocking operations and worth will increase.
Excluding the actions of AVTOVAZ and Renault Russia, the Group’s income was €8.9 billion, down -1.1% and Automotive income was €8.1 billion, down -1.0%. This variation is primarily because of the following:
The change charge results, damaging at -0.9 factors, are primarily because of the devaluation of the Turkish Lira and to a lesser extent of the Argentine Peso.
The amount impact of -8.9 factors is principally defined by the decline within the automotive market in Europe associated to the scarcity of semiconductors, notably affecting Renault model’s gross sales, Dacia being much less uncovered to probably the most affected suppliers.
The worth impact, optimistic by +5.6 factors, displays the continuation of our coverage specializing in worth over quantity in addition to worth will increase to offset price inflation and the devaluation of some currencies (Turkish Lira and Argentine Peso).
The product combine impact of +2.2 factors displays the launch of Jogger on this quarter and the success of Arkana launched within the second quarter of 2021.
The affect of gross sales to companions was damaging by -2.8 factors. It’s primarily the results of the lower in manufacturing of diesel engines and autos for our companions, specifically linked to the tip of the Grasp contract for Opel and Trafic for Fiat on the finish of 2021.
The “different” impact confirmed a optimistic contribution of +3.4 factors, notably associated to the restatement of gross sales with buy-back dedication, that are reducing in comparison with the 1st quarter of 2021 and supported by the efficiency of the elements and equipment exercise and Renault Retail Group.
Mobility Companies contributed €8 million to the 1st quarter income.
Gross sales Financing (RCI Financial institution & Companies) posted income of €737 million within the first quarter, down -2.9% in comparison with the primary quarter of 2021, according to common performing property (€43.7 billion), which was down -4.7% in comparison with the identical interval in 2021. This lower is because of the affect of the Group’s dealership stock optimization technique.
The retail enterprise recorded a rise in new financing of 5.4%. The typical quantity financed on new contracts is rising and partially offsets the -9.7% lower within the variety of new contracts associated to the decline of Group’s registrations.
As of March 31, 2022, complete inventories (together with the unbiased community) characterize 336,000 autos (63 days backward gross sales), in comparison with 487,000 autos on the finish of March 2021 and are secure in comparison with December 31, 2021.
Views & technique
On March 23, 2022, Renault Group introduced:
- the suspension of the actions in its manufacturing plant in Moscow and the evaluation of the out there choices relating to its stake in AVTOVAZ whereas performing responsibly in direction of its 45,000 workers in Russia,
- updating its monetary outlook for 2022 because of these choices with:
- a Group working margin of round 3%;
- a optimistic automotive operational free money movement.
The market atmosphere stays impacted by the semiconductor disaster. The Group confirms a complete 2022 manufacturing loss estimated at 300,000 autos, primarily within the 1st half of the 12 months.
In a context of sturdy price inflation, the Group is pursuing its business coverage targeted on worth and strengthening its competitiveness with extra price discount applications.
As indicated through the presentation of its FY 2021 outcomes on February 18, 2022, the Group confirms to be forward of its mid-term Renaulution goals and is accelerating the implementation of its strategic plan.
Renault Group will current, at a Capital Market Day within the fall of 2022, an replace of its monetary goals and of its technique positioning the Group as a aggressive, tech and sustainable reference participant.
Renault Group’s consolidated income
Renault Group’s prime 15 markets on the finish of march 2022
Complete Renault Group PC + LCV gross sales by model
- In an effort to analyze the change in consolidated income at fixed scope and change charges, Renault Group recalculates income for the present monetary 12 months by making use of the common change charges of the earlier interval and excluding important adjustments in scope through the interval.
- France, Germany, Spain, Italy, United Kingdom
- In an effort to analyze the change in consolidated income at fixed scope and change charges, Renault Group recalculates income for the present monetary 12 months by making use of the common change charges of the earlier interval and excluding important adjustments in scope through the interval.
SOURCE: Renault Group